Job creation critical for durable economic progress report tells Least Developed Countries
Geneva 20 November 2013
The number of young people of working age in the world’s 49 poorest nations are increasing by 16 million per year and in each one of 11 such economies it will climb by at last half a million per year a new UNCTAD publication reports. The organization recommends that the goverments of the globe’s least developed countries intensify reports to employ this vast recourse- currently largely underemployed or trapped in venerable, low-paid jobs – to improve the breadth and the growth prospects of their economies.
The report Least Developed Countries Report 2013 urges that their should be greater policy emphasis in LDCs on employment generation as a certral development objective. It cautions that otherwise, international migration or social and political instability may rise.
The reports says that the so-called LDCs face a stark democratic challenge as their collective population – about 60 percent of which is currently under 25 years of age – is projected to double to 1.7 billion by 2050. During the rest of the current decade these poor countries would have to create around 95 million jobs to absorb new entrants to the labour market and another 160 million in the 2020.
In 45 out of 48 LDCs there currently are rising numbers of new entrants to the labor market, and the trend will not even have peaked by 2050. The LDCs youth population of working age (15-24 uears old) is expected to soar from 168 million in 201 to 300 million by 2050 – an increase of 131,7 million. By 2050 one in four youths worldwide will live in an LDC. The reports for a break with business as usual.
The report may be obtained from United Nations Publications, Sales and Marketing Office or the United Nations sales agents throughout the world.