600 million new jobs needed in next 10 years: ILO

Published on Jan 24, 2012
GENEVA (AFP) – The International Labour Organisation (ILO) on Tuesday released a pessimistic report for the global jobs market in 2012 saying urgent attention is needed to create 600 million new jobs in the next 10 years.
‘Despite strenuous government efforts, the jobs crisis continues unabated, with one in three workers worldwide, or an estimated 1.1 billion people, either unemployed or living in poverty,’ said ILO director-general, Juan Somavia, in the Global Employment Trends 2012 report.
‘What is needed is that job creation in the real economy must become our number one priority,’ he said.
‘Whether we recover or not from this crisis will depend on how effective government policies ultimately are.’ The report said governments must coordinate and act decisively ‘to reduce the fear and uncertainty that is hindering private investment so that the private sector can restart the main engine of global job creation.’ ILO senior economist Ekkehard Ernst said at a press conference the recovery started in 2009 was short-lived and there were nearly 29 million fewer people in the labour force now than ‘would be expected based on pre-crisis trends’. 

China could easily boost domestic consumption to stimulate its economy if its slowdown is too sharp, the International Monetary Fund said Monday. “We don’t see a hard landing as a likely event in China,” he said. Generally in Asia, Singh said, governments still have the fiscal cushions to be able to intervene to help their economies without large fiscal risks. Asia with China could easily counter the downside risks poised by the EU and US, and a slowing economy. It warrants a grand vision to plan ahead for the future with innovations and create demand in industries that will fuel growth, creating millions of jobs in the process. The resources required to invest in the future could be calculated by anticipating the path of growth in a sustainable manner to unlock the resources in borrowings from the future in order to be financially prudent not to overspent. With such objectives, millions of jobs could be created to fuel sustainable growth into the “New Economy”.

– Contributed by Oogle.


Author: Gilbert Tan TS

IT expert with more than 20 years experience in Multiple OS, Security, Data & Internet , Interests include AI and Big Data, Internet and multimedia. An experienced Real Estate agent, Insurance agent, and a Futures trader. I am capable of finding any answers in the world you want as long as there are reports available online for me to do my own research to bring you closest to all the unsolved mysteries in this world, because I can find all the paths to the Truth, and what the Future holds. All I need is to observe, test and probe to research on anything I want, what you need to do will take months to achieve, all I need is a few hours.​

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