Fri. Mar 29th, 2024
india

The International Monetary Fund (IMF) Managing Director Christine Lagarde gives a press conference on IMF World Economic Outlook ahead of the World Economic Forum (WEF) annual meeting in Davos.

During the meeting, it notified a little statistical data involving the youth from emerging markets being unemployed. It stated that 20% of young people in Emerging Markets do not have access to education or a job or training, said Christine Lagarde on Wednesday.

During the session on ‘finding future jobs’ at WEF, she also stated examples of India to drive home a point that a huge rush for job openings at railways showed that a big pool of talent is available at some places.

“In emerging countries, we find 20 percent of young people neither have access to education nor employment nor training. Besides, 18 percent are unemployed,” she said citing data.

“Indian Railways announced 60,000 jobs and 20 million applied. That gives an idea of the magnitude of the pool of talent that is available. It doesn’t mean all of them would have been unemployed as there might be people looking for a change or better job opportunities. And we are not talking about a country that is growing very slowly, as India is a country that is expected to grow at 7.5 percent, so we are talking about a champion in the developing world,” Lagarde said.

She also mentioned that women are affected more than men with the whole issue of finding jobs.

At the same session, International Labour Organisation Director-General Guy Ryder said “human beings need to be put back at the center of policymaking. Besides, there is a need to invest in institutions and it needs to be ensured that nobody is at a disadvantage”, he said.

We also need to invest in areas that have strong job creation potential for future, including in green economy, Ryder added.

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