GENEVA (AFP) – Unemployment will rise by 11 million in the next five years due to slower growth and turbulence, the UN warned on Tuesday.
More than 212 million people will be jobless by 2019 against the current level of 201 million, the International Labour Organization said.
“The global economy is continuing to grow at tepid rates and that has clear consequences,” ILO head Guy Ryder told reporters in Geneva.
“The global jobs gap due to the crisis stands at 61 million jobs worldwide,” he said, referring to the number of jobs lost since the start of the financial crisis in 2008.
The ILO World Employment and Social Outlook – Trends 2015 report said an extra 280 million jobs would have to be created by 2019 to close the gap created by the financial turmoil.
“This means the jobs crisis is far from over and there is no place for complacency,” Ryder said.
The job scenario improved in the United States, Japan and Britain but remains worrisome in several developed economies of Europe, the report said.
“The austerity trajectory… in Europe in particular has contributed dramatically to increases in unemployment,” Ryder said.
The report said eurozone powerhouse Germany could see unemployment rise to five per cent in 2017 against 4.7 per cent at present, while it was expected to fall just under the double-digit in number two eurozone economy France.