Monday, January 23, 2012

600 million new jobs needed in next 10 years, says ILO

Unlocking Word Meanings
1. Strenuous - requiring or showing great energy and effort
in e.g It's a STRENUOUS effort to stay on top of the class.

2. Unabated - continuing at full strength or force without becoming weaker
in e.g Decline in family values continues UNABATED.

3. Short-lived - lasting for a short time
in e.g American Idol winner said fame is SHORT-LIVED.

4. Deceleration - to move slower, to lose speed (antonym: acceleration)
in e.g There is also a DECELARATION of salary increase during the economic crisis.

5. Divergence - to split and move out in different directions from a single point, difference from the normal standard
in e.g She is currently studying genetic DIVERGENCE.
There is a DIVERGENCE of culture in America, so having a sampling for research will be difficult.


600 million new jobs needed in next 10 years, says ILO

The International Labor Organization on Tuesday released a pessimistic report for the global jobs market in 2012 saying urgent attention is needed to create 600 million new jobs in the next 10 years.
“Despite strenuous government efforts, the jobs crisis continues unabated, with one in three workers worldwide, or an estimated 1.1 billion people, either unemployed or living in poverty,” said ILO director-general, Juan Somavia, in the Global Employment Trends 2012 report.

ILO senior economist Ekkehard Ernst said at a press conference the recovery started in 2009 was short-lived and there were nearly 29 million fewer people in the labor force now than “would be expected based on pre-crisis trends.” “Our forecast has become much more pessimistic than last year, with the possibility of a serious deceleration of the growth rate,” he said.

Globally, young people are nearly three times as likely as adults to be unemployed. The global youth unemployment rate, at 12.7%, remains a full percentage point above the pre-crisis level.
Ernst and fellow ILO economist Moazam Mahmood recommended additional public spending “to support both the domestic and global economies.”

The report warned that outside of Asia, developing regions have lagged behind developed economies in labor productivity growth, raising the risk of a further divergence in living standards and limiting prospects for poverty reduction.

link: http://www.japantoday.com/category/business/view/600-million-new-jobs-needed-in-next-10-years-says-ilo