Poverty & Development

What is the unemployment rate in your country?

There are more than 200 million people world wide without jobs today.

| Poverty & Development, Unemployment

Globally, there are more than 200 million people without jobs today.

High unemployment rates and a demand for improved workers rights have prompted thousands of people around the world to hit the streets today, May 1, to mark International Workers' day.

The International Labour Organization (ILO) attributes the 5.7 percent rise in unemployment on the inability of governments to create enough jobs to meet local demands, while other analysts point to stagnate wages.

While wages have grown in some countries in the Global North, such as the United States and Germany , it has not been large enough to compensate for the declines elsewhere.

In January, the ILO predicted that the number of unemployed people across the world is expected to grow by another 3.4 million by the end of the year as well as an additional 2.7 million in 2018.

 

Varying unemployment rate

Unemployment rates have fluctuated drastically in some countries, while remaining fairly stable in others. In the US , a spike was later followed recovery. In the European Union , the recovery was less complete than in the US. The Middle East and North Africa have seen small improvements and dips in ebbs and flows. 

High youth unemployment rate

The labour force aged between 15-24 have been particularly hard hit. From India to Greece, youth unemployment is a barrier for economies.

Worse still, unemployment rates may not depict an entirely accurate picture, as many countries have high rates of youth self-employed or working in informal settings. When youth underemployment devolves into unemployment, it is often a cause for unrest. 

Source: Al Jazeera

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