ILO::Egypt:::Future unemployment rates to be affected by FDI

The GET report draws direct correlation between FDI and employment

The report indicated that around 30% of working males in Egypt are overeducated for the current position they hold while around 10% are undereducated.
(DNE File Photo)

With the government having pledged high rates of foreign direct investment (FDI) over the coming period, the latest report issued by the International Labour Organisation (ILO) points out that FDI’s ability to affect unemployment rates is largely dependent on the sector to which it is directed.

Basing its research in 2011, the report noted that “in Egypt, 45% of total FDI inflows were directed to the petroleum sector. Not only are these sectors capital-intensive, they also offer job opportunities for a very limited number of occupations.”

The 2014 Global Employment Trends (GET) report added that petroleum engineers represent a large part of Egypt’s labour demand, employees for which many MENA countries cannot domestically provide, and thus are positions largely fulfilled by foreign workers.

INDIA:::Haryana roadways employees union split over strike

Leaders of the Uttaranchal Roadways Employees’ Union 

Chandigarh:  Roadways employees union in Haryana today split over the issue of strike with some sections calling off the stir after government accepted "most of their demands" even as some two lakh workers of different departments, boards and corporations struck work.

ILO:::Global unemployment on rise despite economic recovery

International Labour Organisation warns of 'jobless recovery' with unemployment on the increase even though economic conditions are improving

Global unemployment climbed by five million people in 2013 to 202 million despite green shoots in the world economy, signalling a jobless recovery, the International Labour Organisation says.