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ILO warning over high youth unemployment

by on January 21, 2014

The ILO has warned that despite the apparent economic recovery we are not seeing employment recover in alongside, and have produced a report entitled ‘the risk of a jobless recovery’.

Reported in both the Financial Times, and here in the Guardian, the ILO also highlight ongoing concerns regarding youth unemployment:  Globally ILO suggests that the figure for youth unemployment rate is 13.1%, “more than double that for the whole workforce and almost three times the adult rate of 4.6% – a record for the ratio of youth to adult unemployment“.

The ILO director general is quoted in the guardian “If we fail to act, if we fail to tackle the youth jobs crisis, long-term unemployment, high drop-out rates and other pressing labour market issues, we will be destroying hopes for sustainable growth – and sowing the seeds of further, and perhaps deeper social unrest”  In headline terms at least ILO is highlighting the role of the corporate world and the need for more business investment in jobs growth, a shift from the frequent discussion of governmental responsibilities in this area.  This may be in part because of the ILO’s global perspective in which multinational corporations hold significant power and, of course, wealth.


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