Global Employment Trends 2011: The challenge of a jobs recovery

INTRODUCTION
Global employment trends, points to a highly differentiated recovery in labour markets, will persistently high levels of unemployment as well as growing discouragement in developed countries, and with employment growth and continued high levels of vulnerable employment and working poverty in developing regions. These trends stand in stark contrast to the recovery seen in several key macroeconomic indicators: global GDP, private consumption, investment, and international trade and equity markets have all recovered in 2010, surpassing pre-crisis levels.
It shows that 55 per cent of the increase in global unemployment between 2007 and 2010 occurred in the Developed Economies and European Union (EU) region, while the region only accounts for 15 per cent of the world’s labour force. In several economies in the developing world, such as Brazil, Kazakhstan, Sri Lanka, Thailand and Uruguay, unemployment rates have actually fallen below their pre-crisis levels.
Worldwide, 78 million young people were unemployed in 2010, well above the pre-crisis level of 73.5 million in 2007, but down from 80 million in 2009. The unemployment rate among youth aged 15-24 stood at 12.6 per cent in 2010, 2.6 times the adult rate of unemployment. However, the ILO also warned that among 56 countries with available data, there were 1.7 million fewer youth in the labour market than expected based on pre-crisis trends, and that such discouraged workers are not counted among the unemployed because they are not actively seeking work.



DISCUSSION
The study points out that the delayed labour market recovery is seen not only in the lag between output growth and employment growth, but also in productivity gains poorly reflected in real wage growth in many countries. “This can threaten future recovery prospects, as there are strong linkages between growth in real wages, consumption and future investments.
It also finds that there were 630 million workers living with their families at the extreme US$1.25 a day level in 2009. This corresponds to an additional 40 million working poor, 1.6 percentage points higher than projected on the basis of pre-crisis trends.
AMONG OTHER KEY FINDINGS:
Total global employment in industry declined in 2009, which is a major divergence from the historical annual growth rate of 3.4 per cent over the period from 2002 to 2007. In the Developed Economies and European Union region, employment in industry plummeted by 9.5 million between 2007 and 2009, while in the developing regions industrial employment grew, though at a much reduced pace.
Global employment in agriculture grew in 2009, which represented a divergence versus historical trends and reflected that the lower-productivity agricultural sector often serves as a buffer for workers who lose jobs in manufacturing and services.
Increasing food prices around the world represent a growing threat. For non-agricultural sectors, continued sharp increases in food prices could lead to employment losses if inflation is passed on to other areas of the economy.
It underlines the importance of measures that can help boost employment generation and jump-start a sustainable jobs recovery, stressing that improved labour market outcomes would support a broader macroeconomic recovery and could help offset the adverse effects of fiscal consolidation.

GLOBAL EMPLOYMENT TRENDS FOR YOUTH.
This adds to growing evidence of a global situation in which young people face increasing difficulties when entering the labour force. One of the principal findings is that a global
Deficit of decent work opportunities has resulted in a situation in which one out of every three youth in
the world is either seeking but unable to find work, has given up the job search entirely or is working
but still living below the poverty line. Without the right foothold from which to start out
right in the labour market, young people are less able to make choices that will improve their own job prospects and those of their future dependents. This, in turn, perpetuates the cycle of insufficient education, low-productivity employment and working poverty from one generation to the next. Global Employment Trends for Youth will strengthen the capacity of the ILO’s programme on youth employment to provide assistance to countries in developing coherent and coordinated interventions on youth employment that are based on analytical reviews of labour market information.

CONCLUSION
At the end of the explanation the conclusion is here that a high level of unemployment as well as growing discouragement in developed countries and people faces many difficulities when they entering a labour force .In today’s Global Employment Trends report that, despite improvements in many economic indicators, global unemployment remains at crisis level.

Submitted to :-Mr. Gurdeepak singh
Submitted by:-pamita devi
MBA - 1
Section – B