Unemployment still high despite economic recovery

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By Funmi Komolafe

LAGOS — The International Labour Organisation (ILO) has expressed concern that the economic growth recorded in many countries has not translated to creation of job opportunities and reduction of poverty level.

Even as it suggested that increases in wages could lead to increased demand and an eventual boost in the economy.

The ILO  in a statement  by its Director-General, Mr. Guy Ryder said: “Boosting demand for goods and services would go a long way  towards creating the incentive  required for companies  to expand and create jobs.”

It noted that globally, there is a “potentially dangerous gap between profits and people.”

Mr. Guy Rider observed “in most countries, workers have been getting a smaller share of national income and of gains in productivity, while more of the income is going into profit, and we have a major problem.”

He suggested: “We  need to focus on the productive  economy and make a firm commitment  to investing in people, skills and jobs and reducing  economic disparity.”

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