According to the newest report from International Labor Organization (ILO) shows that the unemployed workers will be up to 200 million worldwide in 2017, peak a historical high. The ILO also predicted the number of unemployed workers will augment over 3.4 million than last year, continue to increase 2.7 million unemployed workers in 2018 based on these situations on account of the increasing speed in populations of labor force exceeded the expansion of new job especially in developing countries.
Guy Ryder, the director of ILO pessimism express about worldwide economy prospects, the results of it will feedback to employment, the government could hardly to make enough jobs let alone do it better. Here are other reports from ILO shows remain negative about the job that the global wage growth is the slowest rate since 2012 based taken into account the inflation and according to latest years like 2015’s data.
Despite the average wage increased in developed economies such as U.S and Germany but it nor half the declines in other countries. There are many people still living below the poverty level including half of the South-Asia labor force and two thirds of the population who living in sub-Saharan Africa.
It is estimated that the largest unemployment rate will occur in developing economies and the Latin America should pay particular attention on that. Moreover, the long-term unemployment is becoming a serious problem in North America and Europe due to half of the unemployed workers have lost their job over six months.
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