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Citing downturns in key emerging economies, the International Labor Organization (ILO) recently disclosed that the global unemployment rose in 2015 and is expected to worsen further over the next two years. In its new World Unemployment Report, the ILO estimated that 197.1 million working-age people were unemployed in 2015, an uptick of 0.7 percent compared to 2014 figures. In 2016, the figure is expected to rise by a further 2.3 million, with another 1.1 million people added to the jobless roster in 2017, the report said.
The figures also made clear that employment rates have not recovered from the financial crash of 2008, as 27 million more people were out of work last year as compared to the pre-crisis level. Briefing journalists about the report on 19 January 2016, ILO chief Guy Ryder said that the global economy is not generating enough jobs. He pointed to the significant slowdown in emerging markets coupled with a sharp decline in commodity prices, as the culprits fuelling a grim outlook for the global job market.
The new report of ILO disclosed that much of the trouble in the developing world stems from struggling Brazil and especially China, which last year saw its slowest GDP growth in a quarter century. Once key drivers of global job growth, major emerging economies in Asia and Latin America will likely see unemployment rise this year, as will Arab and African nations which are heavily reliant on commodity sales, according to the report. Unemployment is expected to fall slightly in advanced economies, but not by enough proportions to fully offset the losses in the developing world, the ILO said. The report forecasts that in the United States and some other advanced economies, unemployment will decline to pre-crisis rates.
In the report, ILO sounded specific alarm on the ever-rising number of people worldwide who have “vulnerable employment,” a term referring to low quality, unstable work, without formal contracts or benefits and with huge volatility in compensation. In addition to jobless figures, the ILO has typically used the vulnerable employment rate to assess the true health of an economy. In emerging markets, the number of people with vulnerable work is expected to grow by 25 million over the next three years, the report said.
In his interview with Press TV on 19 January 2016, Peter Koenig, an economist and geopolitical analyst summed up ILO’s projections and stated that by 2017 more than 300 million people are likely to be unemployed. This does not include a shadow figure of at least another 30 to 50 percent, especially from developing countries where no exact statistics are held and where the line between partial employment and unemployment is blurred.
He further noted that, the projected 300 million-plus in 2017 do not account either for the more than 60 million refugees which, according to UNHCR, are currently on the move or in camps throughout world. Their situation is extremely precarious, considering health, nutrition and other social factors and they are practically all unemployed.
Peter Koenig stressed that, the flood of refugees into Europe, especially Germany, will create more unemployment. And there is a purpose behind it: United States wants Europe divided and working for their corporations as so-called low-wage, hi-tech servants. Even in the United States, real unemployment, if it were to be accounted for like it was in the 1990s, or like it is in some European countries, would be between 20 and 25 percent, not the 5 percent currently claimed by the Labor Department.
Nick Beams, another economist and geopolitical analyst criticized the ILO Chief, Guy Ryder, for not talking about the origins of the “ongoing financial crisis with no end in sight.” He strongly argued that this crisis is not just happening, rather it is directed, fabricated and maintained by global elites, led by the United States and supported by the Pentagon and NATO, fuelling wars and conflicts throughout the world.
According to Nick Beams, wars are highly profitable for the military industrial complex; and they are highly destructive, leaving entire countries without infrastructure and productive capacity like Syria, hence unemployment becomes astronomical. The worldwide economic crisis is manipulated by the very purpose of ‘Globalization’ where rich industrialized countries transfer their manufacturing to cheap labor countries, where vulnerable and precarious jobs are created with no social insurances, job security and minimal and barely living wages.
Nick Beams seriously stressed that poor people who are at the edge of survival cannot stand up for their rights. They have to fight for daily survival of their families. The global financial and industrial elites that are manipulating crisis after crisis, and therefore, creating willed unemployment can continue the crisis mode only as long as it uses the current fiat dollar-based monetary system. Only this system makes it possible to impose totally illegal ‘sanctions’ on countries that do not behave according to the United States’ dictate. Sanctions also create unemployment.
The solution is not that far-fetched: In order to get out of this nefarious global system, the BRICS and the Shanghai Cooperation Organization (SCO) countries making up about one third of the world’s GDP and about half of the world’s population, are about ready to launch an alternative monetary system.