Makkah emir reassures excellent services for pilgrims Deputy emir meets Hajj minister in Arafat    Security forces utilize AI to manage Hajj pilgrimage    Zelensky seeks show of support at giant Ukraine peace summit    G7 leaders accuse China of 'enabling' Russia war on Ukraine in stark warning    Full-blown Israel-Hezbollah war appears to be more likely, analysts say    Cyril Ramaphosa re-elected South African president    A glimpse into the Jamarat: Ensuring a safe and sacred ritual for pilgrims    Hajj pilgrims advised on safe practices for stoning    Saudi-based Shine Event Staffing wins Best Staffing Agency at the Middle East Event Awards 2024    IMF forecast: Saudi unemployment rate hits historic lows; non-oil growth to reach 3.5% in 2024    Tesla investors back $56bn Musk pay deal    Japanese band pulls music video with ape-like natives    Aramco and NextDecade set preliminary terms for long-term LNG agreement    BTS' Jin to hug 1,000 fans as he returns from army    The hit Thai film moving TikTokers to tears    Iconic French singer Françoise Hardy dies aged 80    Mahd Sports Academy appoints Mike Puig as Deputy CEO for Sports    Saudi national football team wins 3-0 against Pakistan in World Cup qualifiers    Embracing change: A journey towards inner peace    Cristiano Ronaldo hails 2023-24 RSL season as 'one of the best' of his career    Germany's head coach blasts public broadcaster for 'racist' survey    JK Rowling in 'arrest me' challenge over hate crime law    Trump's Bible endorsement raises concern in Christian religious circles    Hollywood icon Will Smith shares his profound admiration for Holy Qur'an    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



U.N. Says Global Employment Needs 5 Years to Rebound
Published in Saudi Press Agency on 01 - 10 - 2010

It will take five more years before employment around the world rebounds to the point it was before the financial crisis, two years longer than previously predicted, the International Labor Organization said in its annual jobs report.
To get back to the level of employment in 2007, the global economy needs to create nearly 23 million jobs, including more than 14 million in developed countries, the report said.
"The root causes of the crisis have not been properly tackled," said Raymond Torres, an economist and the lead author of the report.
Now that the effects of public stimulus packages around the globe are fading, fiscal policies are not sufficiently focused on job growth, which helps explain the likely delay in improving employment, the report said.
Without such changes, there will probably be an increase in social unrest, especially in countries where unemployment remains high. About 25 countries have already experienced strife linked to the economic crisis, according to the report.
"We don't need the poll data to see more social unrest," Mr. Torres said. "You can see the strikes here in Europe, while in China and other Asian countries you can see social discontent."
Some countries have encouraging signs of jobs recovery, particularly in Asia and Latin America, but in the United States the duration of unemployment has lengthened. One reason the American unemployment rate dropped to 9.6 percent in August from 10.1 percent in the previous October is that 1.2 million people unable to find jobs stopped looking for work, the report said, so they are no longer counted.
To increase employment, governments need to focus on measures like training, raise the spending power of those with jobs in emerging economies through wage increases and enact far-reaching financial reform, according to the labor organization, a United Nations agency.
Economists generally endorsed the findings of the report, but they noted that if any of the recommendations were simple to achieve, they would have been put in place long ago.


Clic here to read the story from its source.