Wednesday, May 27, 2015Wednesday, May 27, 2015

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

Published on Nov 14, 2012 9:38 PM

GENEVA (AFP) - More than 86 per cent 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 Labour Organisation (ILO) said on Wednesday.

"More than 86 per cent of the almost 40 million people who dropped out of the labour 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.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!