40 per cent of the jobless worldwide are young people. There will be nearly 75 million unemployed youth aged 15 to 24 in 2012, an increase of nearly 4 million since 2007. The youth unemployment crisis can be beaten but only if job creation for young people becomes a key priority in policy-making.
Social protection programmes can act as stabilizers mitigating the impact of economic crises on labour markets while contributing to maintaining social cohesion and stimulating aggregate demand.
G20 countries would need to create 21 million jobs in 2012 in order to return to pre-crisis employment levels.
Adopted by ILO constituents in June 2009, the Global Jobs Pact provides a set of policy measures centred on investments, employment and social protection.
Adopted in 2008 by the representatives of governments, employers and workers from all ILO member States, the Declaration expresses the contemporary vision of the ILO’s mandate in the era of globalization.
"Things are getting worse," in terms of job recovery according to ILO Director General Guy Ryder. The ILO head called on G20 nations to make good on their pledge at the G20 to support demand for job creation should the global economic situation worsen. |