Unemployment in India pegged at 18 million in 2018: ILO

Jan 16, 2017 13:47 IST

ILO released world employment outlook= The International Labour Organisation (ILO) in January 2017 released a report entitled World Employment and Social Outlook – Trends 2017. As per the report, the global unemployment is expected to rise by 3.4 million in 2017.

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Highlights of World Employment and Social Outlook – Trends 2017

• The global unemployment rate is expected to rise modestly from 5.7 in 2016 to 5.8 per cent in 2017. When compared to 2016, it represents an increase of 3.4 million in the number of jobless people.

• While the global unemployment rate is expected to hold relatively steady in 2018, the pace of labour force growth will outstrip job creation resulting in an additional 2.7 million unemployed people globally.

• The increase in unemployment levels and rates in 2017 will be driven by deteriorating labour market conditions in emerging countries.

• Compared with an average annual decline of 0.5 percentage points between 2000 and 2010, the rate of vulnerable employment is expected to fall by less than 0.2 percentage points per year over the next two years.

• As a result, vulnerable forms of employment are expected to remain above 42 per cent of total employment in 2017.

• In emerging and developing countries, the share of workers living in moderate or extreme poverty is expected to fall from 29.4 per cent in 2016 to 28.7 per cent in 2017.

• Vulnerable forms of employment are consistently higher for women across Africa, Asia and the Pacific and the Arab States.

Report with respect to India

• Among all the regions, South Asia has created most of the new employment in 2016. In this region, employment expanded by 13.4 million in 2016. The majority of this new employment was created in India.

• In 2016, unemployment in India was at 3.5%. In 2017 and 2018, it will be 3.4%.

• The number of unemployed in 2016 was 17.7 million. This number is set to increase to 17.8 million and 18 million in 2017 and 2018 respectively.

 

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Read more Current Affairs on: World Employment , ILO , UN report , Unemployment in India

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