No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeArchive86% of world’s unemployed get no income support: ILO

86% of world’s unemployed get no income support: ILO

More than 86 percent of workers worldwide who lost their jobs after the global economic crisis – about 34.4 million people – had no unemployment benefit to fall back on, the International Labor Organization said on Wednesday.

“More than 86 percent of the almost 40 million people who dropped out of the labor market since 2008 found themselves without a regular income from one day to the other,” said ILO social protection expert Florence Bonnet.

The figures, which take into account many young workers who have not paid a sufficient number of social security contributions to receive benefits, form part of an ILO survey showing a stark absence of statutory cover for those who lose their jobs around the world.

Workers’ insurance schemes exist in only 72 countries out of 198 surveyed by the Geneva-based agency, and most of them are well-off nations, it said.

Only 16 percent of countries taking part in the poll offer income support for young people looking for their first job, ILO’s findings also showed.

In Europe and North America, 80 percent of people without a job receive benefits, while in Africa the proportion is less than 10 percent.

About 114 countries “offer absolutely nothing at all, particularly in Africa,” Bonnet said, adding that only six countries on the African continent offered unemployment protection.

South Africa’s system was among the most developed, Bonnet added.

In Latin America and the Caribbean, 40 percent of workers have unemployment insurance.

Asian countries that offered no insurance for the jobless include the Philippines and Indonesia, Bonnet said, insisting that unemployment insurance helped other countries resist economic shocks.

Citing South Korea, which introduced such cover in 1995, ahead of the Asian financial crisis of 1997, Bonnet said this action “helped the country absorb the repercussions of the recent global economic crisis in a more systematic and effective way.”

Trending Now

Chiquita Brands Leaves Panama Amid Protests, Talks Underway to Resume

Laid-off workers from the U.S.-based banana company Chiquita Brands said on Monday that they are hoping for the company’s return to Panama, after it...

Costa Rica Maintains Economic Stability Amid Global Tensions

Costa Rica is holding steady economically despite global tensions sparked by conflicts involving Israel, the United States, and Iran, according to Federico Quesada Chaves,...

Honduras Seizes $2 Million, Gold-Plated Pistols in Drug Raid

Honduran authorities struck a blow against drug cartels, seizing over $2 million in cash, war rifles, and flashy gold-plated pistols in Copán, a northwest...

An Expat’s Take: 5 Burning Questions About Life in Costa Rica Right Now

Have you been keeping up with the various events taking place in Costa Rica? There is always something interesting going down, and here are...

Obesity in Costa Rica: A Growing Health Crisis After 35 Years of Change

Recent studies claim that about one-third of adults in Costa Rica are considered obese and another third overweight. Which means about two-thirds of adults...

Guatemala Makes History as They Face USA in Gold Cup Semifinal Showdown

Desperate to show progress under Mauricio Pochettino, the United States is looking to secure a return to the CONCACAF Gold Cup final on Wednesday...
Avatar
spot_img
Costa Rica Tours
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica