The job market is in a tailspin, with the number of people in employment rising in every country but one, according to the latest figures from the International Labour Organization.
In a report released on Tuesday, the organization said that the global job market has seen job losses of nearly 1.5 million jobs in 2016.
It also said the global workforce is on track to shrink by around 20 percent between now and 2020, a figure that would leave around 6.5 billion people out of work.
More:The global jobless rate hit 6.8 percent in March and is expected to fall further.
The jobless participation rate fell to its lowest level in more than a decade, but the participation rate remains among the highest in the developed world.
The jobless increase comes as governments grapple with rising joblessness rates across the globe.
China’s labor ministry said on Wednesday that more than 6 million people lost their jobs last year, including more than 5 million workers in China, while Japan’s unemployment rate was at its highest level in a decade.
More about jobless,jobs,economy,job market,international labor source Reuterstitle How to look for the best jobs in the globe article The jobs market is on a tailspins, with people in jobs falling in every nation but oneSource: Reuters