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Poor nations failing to create jobs despite booming growth: UN

November 25, 2013 • Daily Email Recap

Poor nations failing to create jobs despite booming growth: UN
See: http://www.financialexpress.com/news/Poor-nations-failing-to-create-jobs-despite-booming-growth–UN/1197714

The planet’s poorest nations such as Angola and Ethiopia have largely failed to cash in on booming economic growth to create the jobs needed to push their ballooning populations out of poverty, the UN warned today.

“Economic growth that does not create decent jobs in sufficient quantities is unsustainable,” said Mukhisa Kituyi, head of the UN Conference on Trade and Development.

In its tri-annual review of the world’s least developed countries, or LDCs, UNCTAD said that the 49 countries on its list had jointly seen strong economic growth over the past decade, but that there were too few decent jobs to show for it.

This is a problem, since these countries, including 34 in Africa, are set to see their already youthful populations double to 1.7 billion by 2050, with an estimated 16 million people forecast to join their labour markets each year until then.

To read the full article, please click here: http://www.financialexpress.com/news/Poor-nations-failing-to-create-jobs-despite-booming-growth–UN/1197714


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