– Says oil price crash would hit African labour market hard
The United Nations have today (Tuesday, January 20, 2015) warned that unemployment will rise by 11 million in the next five years due to slower growth and turbulence.
The ILO World Employment and Social Outlook -Trends 2015 report said an extra 280 million jobs would have to be created by 2019 to close the gap created by the financial turmoil.
The UN agency said the steep fall in energy prices would hit the labour market hard in oil and gas-producing countries in Latin America, Africa and the Arab world.
More than 212 million people will be jobless by 2019 against the current level of 201 million, the International Labour Organization (ILO) said.
”The global economy is continuing to grow at tepid rates and that has clear consequences,” ILO head Guy Ryder told reporters in Geneva.