MUSCAT: Nearly half a billion people around the world are struggling to find paid work, trapping individuals in poverty and fuelling heightened levels of inequality, according to a study by the United Nations.
In a new report published by the UN’s International Labour Organization (ILO) said more than 473 million people around the world lacked the employment opportunities to meet their needs.
In addition, UN said global unemployment was due to rise for the first time in almost a decade in 2020, as weaker levels of economic growth around the world lead to the number of people out of work rising by about 2.5 million to stand at more than 190 million. “The economy showed that developed countries are experiencing slow growth, and some African countries are stagnating. The consequence is that not enough new jobs are being created to absorb the growing labour force as it enters the market. In addition, many African countries are experiencing a drop in real incomes and a rise in poverty,” the report said.
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As per the report, some 267 million young people aged 15-24 are not in employment, education or training, and many more endure substandard working condition. “Inequalities related to gender, age and geographical location continue to plague the job market, with the report showing that these factors limit both individual opportunity and economic growth,” the report added.
