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Saturday, January 31, 2009
2009 world unemployment could rise by 40 million, says UN
The number of unemployed in 2009 will largely depend on how effective governments' economic stimulus measures are, the International Labor Organization cautioned.
Worldwide unemployment by the end of the year will range between 210 million and 230 million people, the agency said in its annual Global Employment Trends report.
That is a marked increase on the 179 million who were unemployed at the end of 2007 and the estimated 190 million at the end of 2008, the ILO said.
The worst case scenario assumes growth slows rapidly and that an economic recovery will be delayed into 2010.
This would boost the global unemployment rate to 7.1 per cent, a decade high and well above the 2007 rate of 5.7 per cent and estimates for a 2008 rate of 6 per cent. Over the last ten years, the rate has ranged from 5.7 per cent to a peak of 6.3 in 2003 and 2004.
ILO Director-General Juan Somavia said that although many governments have started to support their economies, ``more decisive and coordinated international action is needed to avert a global social recession.''
``Progress in poverty reduction is unraveling and middle classes worldwide are weakening,'' he said.
The latest predictions are based on an economic growth forecast of 2.2 per cent, published by the International Monetary Fund in November and expected to be adjusted downwards.
``Unemployment will rise with a downward revision, but I believe it will still fall within the range,'' said Lawrence J. Johnson, who heads the ILO's employment trends unit.
The report had originally forecast world unemployment would range between 198 million and 230 million people, but Somavia said the lowest estimate has probably been overtaken by events.
If the worst case scenario materializes, around 200 million more people would become working poor, unable to earn more than $2 per person a day.
In this outlook, the total number of working poor would be 812 million, or 26.8 per cent of the world's work force, the report said, using poverty estimates by the World Bank.
In 2007, some 609.5 million were working poor, 20.6 per cent of the world's work force at the time.
In addition to fiscal and monetary interventions, the world economy also needs creative measures improving the social situation of workers, the report said.
``There is a need to focus measures on vulnerable groups in the labor market, such as youth and women, who are most likely to be pushed into poverty and find themselves trapped there for many years,'' it said.
Governments should give special attention to small and medium companies because they provide the bulk of jobs and are most affected by the financial crisis, the report said.
Agencies
Monday, November 24, 2008
Sustainable development index for India
BT announced that the launch of its “Sustainable Development Index – an assessment of business performance in India”. The SD index has been developed in partnership with GlobeScan, an independent public opinion and stakeholder research company. Through a survey of senior opinion leaders across India the index is a means to measure the performance of business in India in the progression towards sustainable development over time.
The initiative was officially launched by Dr. R. K. Pachauri, Director General, TERI and Allen Ma, President, BT Asia Pacific at a news conference in New Delhi, India.
The SD index report reveals that although Indian companies are taking positive steps towards sustainable development, the overall performance of the corporate sector is disappointing. 46 per cent of India's opinion leaders surveyed blame a lack of awareness around sustainable development issues as the main cause of inaction. Some 40 per cent of opinion leaders also cited a lack of political will as a major obstacle to making significant progress in this area.
According to the report, this lack of action means India lags behind China, Japan and the European Union when it comes to addressing key issues, such as tackling climate change, corporate governance practices and water resource management.
Interestingly, the country's largest cities were seen as making the strongest moves to improve sustainable development practices. Whilst there are negative views around India's progress, a majority of opinion leaders (57 per cent) feel that companies in India are now more active with regard to sustainable development compared to one year ago.
In fact, the corporate sector is considered to have made significantly stronger progress than either government or the general public. Allen Ma, President, BT Asia Pacific said: “At BT, we absolutely view sustainability as an international issue and businesses cannot succeed in societies that fail. India is rapidly becoming a global centre for information and communications technology development, and boasts a high economic growth rate. It is vital that this commercial success is matched by a commitment to, and leadership in, corporate responsibility. We are constantly looking at the impact of our core business activities across the spectrum of social, environmental and economic issues. Through the launch of the BT Sustainable Development Index we hope that other organisations in India will do the same.”
The most frequently mentioned corporate leaders in sustainable development in India are: TATA Group (named by 31 per cent of respondents), Reliance (13 per cent) and Infosys (10 per cent).
Nitin Desai, Former United Nations Under-Secretary-General for Economic and Social Affairs and Advisor to BT’s SD Index, said: “There are significant social, environmental and economic challenges facing the world’s second most populous country and India’s transition to sustainable development is in the world’s interest. Given the importance of the issues at stake, there is a clear need for initiatives such as BT’s to help channel corporate sustainability efforts to where they can have the most beneficial impact. We need to be able to carefully monitor where corporate successes are occurring and to learn from them. We also need to reliably know which aspects of sustainable development most urgently require corporate action"



