Nearly 202 million people were unemployed in 2013 around the world, some 5 million more than in 2012, because the number of jobs is not keeping pace with the growing workforce. As the world’s elite meet in Davos, Switzerland , this week to discuss global economics, the International Labor Organization released its annual jobs report , showing how much work must be done to ensure workers can support themselves and their families.
Global Employment Trends 2014 also finds:
- Young people are especially hard-hit. Some 74.5 million people age 15–24 were unemployed in 2013, nearly 1 million more than in 2012.
- Vulnerable employment—self-employment or work by contributing family workers—accounts for nearly 48% of total employment. Workers in vulnerable employment have less secure income than wage and salaried workers and limited or no access to health care and pension coverage.
- Regionally, most of the increase in unemployment is in East Asia and South Asia, which together represent more than 45% of additional job seekers, followed by sub-Saharan Africa and Europe.
- Informal employment remains widespread in most developing countries. Even in regions making reductions in poverty, lack of formal employment opportunities hinders further poverty reduction.
- Although the number of working poor continues to decline globally, some 839 million workers—the working poor—live on less than $2 a day.
- Some 23 million people are estimated to have dropped out of the labor market because they are discouraged about finding a job.