Image via WikipediaILO data provides an alarming picture of joblessness, especially among the young, that surely threatens more political instability
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A jobless recovery. Entrenched levels of high unemployment among the young. More than 1.5 billion people – half the global working population – in vulnerable or insecure jobs.
Those are the key findings of the latest health check on employment trends across the world released by the International Labour Organisation last night.
The ILO report makes depressing reading. Despite a relatively robust pick-up in growth during 2010, economic recovery made virtually no dent in the unemployment caused by the worst recession in the global economy since world war two. The official jobless figure stood at 205 million in 2010, but that is almost certainly an underestimate since many of those who would like a job have given up hope of finding one, while millions more are working part-time when they would prefer full-time employment.
download a pdf of the full report here