Global Unemployment to increase by around 2.5 million in 2020: ILO Report

The International Labour Organization (ILO) has released a report titled “World Employment and Social Outlook: Trends 2020” which predicts that unemployment is likelt to increase by around 2.5 million in 2020.
However, the report also revealed that after nine years in decline, the rate of global unemployment remained unchanged in 2019, at 5.4%, and is expected to stay the same for the next two years, due to fluctuations in the population seeking work.

Some Key Finding of the Report

Over 470 million people globally are working fewer paid hours than they would like to or lack access to paid work.
Around 188 million people are unemployed globally and another 165 million adults are unable to get enough paid work.
Also, there are 120 million people who had given up actively searching for work or had less adequate access to jobs.
Of the global workforce, 61% are in informal employment
630 million people, equivalent to one in five of the global workforce, are working but still live in poverty