Report of ILO on unemployment rate of India
The International Labour Organization (ILO) expects India’s unemployment to rise in 2017 and 2018. The UN agency has revised upwards the unemployment rate for India to 3.5 per cent for both 2017 and 2018 in its latest World Employment and Social Outlook for 2018 from 3.4 per cent projected earlier.
The country’s unemployment is estimated to have risen to 18.3 million in 2017 from 17.8 million projected earlier, while for 2018, the ILO estimates unemployment to increase to 18.6 million from 18.0 million estimated earlier in its previous employment outlook report.
Unemployment levels in Asia and Pacific are expected to remain low relative to other regions largely due to the fact that employment growth in the region is expected to remain strong.
Globally, the ILO estimates unemployment rate to have decreased to 5.6 per cent in 2017 from earlier estimate of 5.8 per cent. For 2018, the Geneva-headquartered agency has forecast unemployment rate to fall to 5.5 per cent as against earlier estimate of 5.8 per cent.
“For 2018, the global unemployment rate is expected to fall by 0.1 percentage points, keeping the number of unemployed essentially unchanged despite the presence of a growing labour force.
The International Labour Organization (ILO) is devoted to promoting social justice and internationally recognized human and labour rights, pursuing its founding mission that social justice is essential to universal and lasting peace.
Only tripartite U.N. agency, the ILO brings together governments, employers and workers representatives of 187 member States , to set labour standards, develop policies and devise programmes promoting decent work for all women and men.