An estimated 11 million people may lose their jobs in 2013, according to the latest report by the International Labor Organization- ILO.
Released on the eve of the May Day, the report states that the number of people falling out of employment globally continues to increase and there are no signs the situation will improve in the near future.
Uganda’s unemployment rate according to the Uganda National Bureau of Statistics stands at 3.5 percent and majority of the unemployed are youths.
The report says efforts by governments across the globe to cut their spending have not translated to more growth in the private sector.
The report states that while unemployment is pushing poverty levels higher worldwide, countries in Sub-Saharan Africa, the Middle East and North Africa face increased threat of social unrest in 2011 compared to 2010 due to joblessness.
Raymond Torres, the lead author, who is also the Director of the ILO Institute for International Labour Studies warns that if nothing is done, employment levels coud shoot higher.
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ILO says job recovery especially in Europe, is not expected before the end of 2016 – unless there is a dramatic shift in policy direction.
