23 Jan 2012

ILO / GLOBAL TRENDS 2012 PRESSER

The world needs to create 600 million new jobs over the next decade to sustain economic growth and maintain social stability, the United Nations International Labour Organization (ILO) says in its annual report on global employment. ILO

Posted at: January 23, 2012 8:38 pm

Duration: 01:40

Available in: SD

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STORY: ILO / GLOBAL TRENDS 2012 PRESSER
TRT: 1.40
SOURCE: ILO
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

DATELINE: 23 JANUARY 2012, GENEVA SWITZERLAND

SHOTLIST:

FILE – 2011, PALAIS DES NATIONS, GENEVA, SWITZERLAND

1. Wide shot, exterior Palais des Nations

23 JANUARY 2012, GENEVA SWITZERLAND

2. Wide shot, press conference
3. Cutaway, conference
4. SOUNDBITE (English) José Manuel Salazar-Xirinachs, Executive-Director, Employment Sector, ILO:
"The world must create 600 million jobs over the next decade. This is a
very difficult challenge in a world where not only the recovery is weak,
but where the employment content of growth is low.  But the situation is
even worse: In developing and emerging countries 900 million workers
live below the US$2 a day poverty line."
5. Cutaway, journalist
6. SOUNDBITE (English) José Manuel Salazar-Xirinachs, Executive-Director, Employment Sector, ILO:
"In 2011, 74.8 million youth aged 15-24 were unemployed, an increase of
more than four million since 2007.  This means that 4 out of every 10
unemployed persons in the world are young persons."
7. Cutaway, conference
8. SOUNDBITE (English) José Manuel Salazar-Xirinachs, Executive-Director, Employment Sector, ILO:
"To absorb the jobs gap created by the Great Recession, would require
global growth to be sustained at least 4.8% per annum until 2016. And
an increase in the investment rate equal to an additional 2 percentage
points of GDP, or US$ 1,200 billion worldwide. Unfortunately, these
rates of growth and of investment seem very unlikely to happen, at least
under present policies."
9. Close up, report: GLOBAL TRENDS 2012

STORYLINE:

Addressing journalists today Geneva José Manuel Salazar-Xirinachs, ILO's Executive-Director at the Employment Sector said that the situation was even worse in developing and emerging countries where 900 million workers lived "below the US$ 2 a day poverty line."

More than 400 million new jobs will be needed over the next 10 years to absorb a labour force expansion of an estimated 40 million people.

Some 74.8 million young people between the ages of 15 and 24 were unemployed last year.

Salazar-Xirinachs said that that meant that "4 out of every 10 unemployed persons in the world are young persons".

Young people are nearly three times as likely as adults to be unemployed. The global youth unemployment rate, at 12.7 per cent, remains a full percentage point above the pre-crisis level.

The baseline projection showed an additional 3 million unemployed for 2012, rising to 206 million by 2016. In the second scenario, if global economic growth rates fall below 2 per cent, then unemployment would rise to 204 million in 2012.

Salazar-Xirinachs told journalists that in order to absorb the jobs gap created by the Great Recession would require a global growth to be sustained at least 4.8 percent per annum until 2016. And an increase in the investment rate equal to an additional 2 percentage points of GDP, or US$ 1,200 billion worldwide. Unfortunately, he said those rates of growth and of investment "seem very unlikely to happen, at least
under present policies".

The better scenario assumes that there will be a quick resolution of the euro zone debt crisis, which would lead to global unemployment dropping by one million this year.