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G20 show a troubling jobs trend

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The G20 group of leading economies have prioritized jobs at their summit in Moscow later this week. Although half of the G20 members have seen a small drop in the unemployment rate in the past 12 months, the other half have seen rises, and in two countries – Spain and South Africa – it is now over 25 percent.

Total G20 unemployment reached 93 million in early 2013, with 30 percent of the unemployed out of work for more than a year.

The ILO and OECD´s call for action on jobs echoes previous such appeals to the world´s leading economies, which have in recent years been preoccupied with their response to the financial crisis, without a concerted plan for jobs.

The Director General of the ILO, Guy Ryder, made the call at the launch of a joint report by the Organisation for Economic Cooperation and Development (OECD), prior to the meeting of Ministers of Labour and Employment of the 20 most developed economies (G -20).

The ILO chief was speaking at a press conference to present the statistical update – “Short-term labour market outlooks and key challenges in G20 countries” – prepared by the ILO and the OECD for the meeting of G20 Labour and Employment Ministers.

At the Moscow meeting, prior to the summit of heads of state of the G-20 scheduled for September this year, officials of Finance and Labor of the bloc will exchange experiences (successful or not) according to each country´s employment area. This week´s summit is expected to focus on slowing Chinese growth, the U.S. Federal Reserve´s plans for exiting its bond-buying program, and Japan´s economic stimulus program.

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