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ILO Labour Report 2020: Unemployment to rise by 2.5m in 2020


ILO Labour Report 2020: Unemployment to rise by 2.5m in 2020 
 


International Labour Organization (ILO) released the World Employment and Social Outlook Trends 2020 (WESO).

The report highlighted that more than 470 million people worldwide are unemployed or underemployed.

Report Highlights:
  • The report forecasted Global unemployment to increase by around 2.5 million in 2020.
  • It reported that around 188 million people are unemployed in the world.
  • Also, 165 million people, aged between 15 and 24, lack sufficient paid work
  • It stated that 120 million people either lack access to the labour market or have given up actively searching for work.

The ILO became the United Nation's first specialized agency in 1946.

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