Save Austin Fair Yudala banner
Number of unemployed people in the world hits over 200 million

By Lisa Schlein on 10/10/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 388


Global unemployment this year stands at more than 201 million, an increase of 3.4 million compared to 2016, says the International Labor Organization.

The ILO says the private sector, especially small and medium-sized enterprises, plays a crucial role in creating decent jobs around the world.

The ILO study (World Employment and Social Outlook 2017: Sustainable Enterprises and Jobs) reports private businesses account for nearly 3 billion workers, or 87 percent of total global employment. It says a strong public sector is the foundation for growth, job creation and poverty reduction.

Deborah Greenfield, the ILO deputy director general for policy, says investing in workers is a key to sustainability. She also says providing formal training for permanent employees results in higher wages, higher productivity and lower unit labor costs. Greenfield says temporary workers are at a disadvantage.

“But, intensified use of temporary employment is associated with lower wages and lower productivity without achieving any gains in unit labor costs,” Greenfield said. “The report also finds that on-the-job training is an important driver of innovation. Since temporary workers are rarely offered training, this might also affect innovation in firms in a negative way.”

The ILO report says in some cases, innovation has led to the hiring of more temporary workers, mainly women. It notes, however, that while this might be beneficial in the short term, in the long term, it depresses wages and leads to lower productivity because of the instability of temporary work and lack of benefits.

The report, however, finds innovation increases competitiveness and job creation for enterprises. It says innovative firms tend to be more productive, employ more educated workers, offer more training and hire more female workers. (VOA)

Source News Express

Posted 10/10/2017 11:22:03 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
FG, oil firms, others to spend $10 billion...

Dakuku Peterside hails peaceful Rivers APC Congress

Police washes hands off the bungling of trial...

US Congress to investigate alleged Russian attempts to...

Court orders forfeiture of Ikoyi apartment where EFCC...

Buhari set to visit Sambisa

Lassa Fever claims medical doctor, nurse and pregnant...

Kebbi releases N600m for indigent students

Court bars Metuh from seeking further adjournments

Boko Haram kills 31 fishermen in 2 devastating...

Michael Okpara University ASUU crisis deepens

Nigeria loses foremost human rights lawyer Bamidele Aturu...

 

Latest News Nigerian professionals unfold plans to create one million jobs Investigation: How Chinese firm is degrading Abia community, officials sexually exploiting female workers Probe reveals N30b oil revenue ‘hidden’ by NNPC Bankers Committee to create 100,000 jobs by first quarter of 2018 Rate of poverty in Alabama (USA) shocking — UN official Ekweremadu, PDP behind Nigeria’s debt profile — VON DG Ijaw, monarch, Edo at war over Okomu land ownership Osun Govt. seeks vacation of court order stopping federal allocation to LGs Oil prices drop on increased US drilling activity Sponsors, investors queue up for One Lagos Fiesta PDP’s umbrella without the South-West will suffer punctures 500 NYSC members get loans to set up businesses

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (300,596 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (285,257 views) Shameless Genevieve Nnaji exposes breasts in public (230,193 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (193,138 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (183,269 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (169,888 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (147,058 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (132,305 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (130,458 views) Lagos plane crash: Journalist releases victims’ names (118,942 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (115,406 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (111,890 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,813) Business Verdict (27) Columnists (776) Complaints & Requests (94) Enterprise & Opportunities (193) Entertainment (419) Features (522) Global Business Monitor (192) International (1,685) Interviews (138) Live Commentary (28) Love Matters (92) News (30,928) Opinion (844) Pidgin (9) Politics (4,206) Religion (653) Sports (1,379) Stock Watch (25) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

MOBO Awards

 

APO Group Partner

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!