Economic Recovery Not Creating Jobs, Says ILO

The International Labour Organisation says a faltering and uneven increase in jobs is holding back economic recovery

The International Labour Organisation (ILO) says a faltering and uneven increase in jobs is holding back economic recovery, and unemployment is likely to continue at near records this year.

IOL notes that weak job creation is particularly devastating for young people, and official figures understate the true number of unemployed as many have given up looking for work.
 
ILO executive director, Jose Manuel Salazar- Xirinachs, argues that unemployment, insecurity about jobs and cuts in social benefits are depressing consumption, a key element in domestic demand, prevent a self-sustaining recovery from taking hold.
 
To read the article titled, “Recovery failing to put jobless to work, says ILO,” click here.
 

 

Source: 
Business Day

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