World Economy

Jobless Rate in OIC States Reaches 7.4%

Jobless Rate in OIC States Reaches 7.4%
Jobless Rate in OIC States Reaches 7.4%

Labor ministers of the Organization of Islamic Cooperation member states have expressed concern about the unemployment rate, which reached an average of 7.4% in 2016 a percentage that is higher than the world average.

An OIC declaration also showed that youth and women are the most affected. They called for strengthening efforts to create quality employment opportunities and enhance bilateral cooperation to increase the people’s welfare, Arabian Business reported.

The secretary general of the Organization of Islamic Cooperation, Yousef al-Othaimeen confirmed the organization’s eagerness to assist job seekers in member states, stressing that the choice of the theme “Developing a Common Strategy for Manpower Development” reflects the attention given to developing personal and organizational knowledge and skills and facilitating access to the labor market.

At the OIC’s 4th Conference of Ministers of Labor, that kicked off in Jeddah, Saudi Arabia, on Thursday, al-Othaimeen called for the implementation of the executive program for the OIC framework for cooperation on labor, employment and social protection. It includes the development of a database of migrant workers, the setting up of an OIC Labor and Professional Training Observatory, the creation of a job market information unit, and the provision of legal protection for employees as well as the development of a labor market legislation.

He urged the member states to expedite the signing and ratification of the statute of OIC Labor Center, the recent specialized institution of the organization, to be based in Baku, the Republic of Azerbaijan.

The ministers also addressed ways to develop effective solutions for addressing unemployment through job creation, labor productivity, and youth and women employment in member countries. Special attention was given to providing employees with health safety professional training, legal protection and social security protection.

The ministers acknowledged the importance of investment in human resources as a powerful driver of productivity, economic growth, increased welfare and greater social cohesion. Therefore, the ministers committed to increasing their efforts to build skills for work and life and to strengthening the link between education and employment.

They also acknowledged that promoting better employment opportunities for vulnerable groups, especially youth and women remains a key OIC objective and an integral part of its development agenda. They renewed their commitment to implement a comprehensive strategy, including policies to facilitate transition from school to work, strengthen quality employment and apprenticeship opportunities as well as action to improve employability, equal opportunities and entrepreneurship.



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