The number of young people of working age in Nepal is currently increasing by 550,000 a year,and by 2020 it will climb to 633,000 a year, a new UNCTAD publication reports. The organization recommends that the new government should rethink its growth strategy to ensure that growth creates employment opportunities for the young people–who are currently largely under-employed, or trapped in vulnerable,low-paid jobs–to improve the growth prospects of the
economy. The Least Developed Countries Report 20131, subtitled Growth with Employment for Inclusive and Sustainable Development, urges that there should be greater policy emphasis on employment generation as a central development objective. It cautions that otherwise, international migration or social and political instability may rise.The report says that the so-called Least Developed Countries(LDCs),including Nepal, face a stark demographic challenge, as their collective population – about 60 per cent of which is currently under 25 years old –is projected to double to 1.7 billion by 2050. During the rest of the current decade,such poor countries would have to create around 95 million jobs to absorb new entrants to the labour market, and another 160 million in the 2020s. By 2050, one in four young people worldwide will live in an LDC. The report calls for a break with “business as usual” policies, and a shift toward policies aimed at spurring inclusive growth and the creation of more and better-quality jobs.The report cautions that while LDCs enjoyed relatively high gross domestic product(GDP) growth rates from 2002 to 2008, this economic progress did not translate into correspondingly increasing levels of employment. Indeed, countries with faster GDP growth created relatively fewer jobs. However, economic growth which does not create decent jobs in sufficient quantity is unsustainable; and job creation without the development of productive capacities is equally unsustainable, the report contends.
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Publisher:
UNCTAD
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(2014
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Type / Script:
Press Release
in English
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Keywords:
YOUTH, JOB CREATION, EMPLOYMENT, ECONOMIC POLICY, DEVELOPED MARKET ECONOMIES, ECONOMIC CONVERSION, GDP, SOCIAL SECURITY, URBANIZING, LABOUR MARKET, POPULATION, AGRICULTURE SECTOR, VULNERABLE CIRCUMSTANCES, DEMOGRAPHIC CHALLENGES, POVERTY REDUCTION, SAFE EMPLOYMENT, LEAST DEVELOPED COUNTRIES, SOCIAL INSTABILITY, POLITICAL INSTABILITY, CENTRAL DEVELOPMENT, INCLUSIVE DEVELOPMENT, GROWTH PROSPECTUS, ECONOMIC PROGRESS, SUSTAINABLE, LOW PAID JOBS, DURABLE
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Thematic Group:
UN
:
International Peace and Security
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Thesaurus:
02.02.00
- Economic Conditions
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Reference Link:
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