Job creation pathway to a sustainable economic growth
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Transcript of Job creation pathway to a sustainable economic growth
Roundtable Discussion on “Job Creation:
Pathway to Sustainable Economic Growth”
A Presentation by:Cutler Communications
Introduction• Unemployment has become a global concern and it is one of the major global issues
today. The global economic crisis that began in 2007-2008 has had a huge effect on the number of unemployed people around the world
• According to ILO Global Employment Trends 2013’s report, "An uncertain economic outlook, and the inadequacy of policy to counter this, has weakened aggregate demand, holding back investment and hiring. This has prolonged the labor market slump in many countries, lowering job creation and increasing unemployment duration."
5.1million…to 2012
202 million in 2013
205 million in 2014
• As such, the world's unemployment rate and the number of the unemployed worldwide is projected to continue to rise
Unemployment Rate
Overview:Global Unemployment Issues
GLOBAL UNEMPLOYMENT
ISSUES
International Labor
Organization
Forecast that more than 200 million workers will be unemployed in 2012
The United Nations’ Agency’s Report
Estimated that 50 million jobs had been wiped out since the 2008 financial crisis, and predicted no worldwide recovery in jobs and incomes for at least another five years
The World of Work Report
2012 forecast A global unemployment rate of 6.1 percent in 2012, with total world
unemployment rising from 196 million in 2011 to 202 million in 2012. The unemployment total is projected to rise by another five million in 2013, and the rate to 6.2 percent
Sources: ILO Annual Report; The World of Work Report 2012; The United Nations’ Agency’s Report: Global Employment Trend 2013
6% of the world's workforce were without a job in 2012. The number of jobless people around the world rose by 4m in 2012 to 197m
Overview: Africa Unemployment Issues
Population
• The whole of Africa is about 1 billion and about 800 million are found in SSA (where Nigeria also belongs)
Youth: under Age
30
• 62% of the SSA population are under the age of 30 – that is about 500 million people
Jobless
• 45% are either not in school or jobless – that’s about 220 million people
Africa Unemployment
Issues
Overview:Nigeria Unemployment Issues
Nigeria Unemployment
Issues
SURE-P
World Bank
Nigerian Bureau
of Statistics
Minister of
Finance/Economy
Unemployment Rate Average:• 2006 – 2011: 23.90%The NBS measures unemployment rate by the number of people actively looking for a job as a percentage of the labour force
Economic Report on Nigeria:The official unemployment rate had steadily increased from 12 per cent of the working age population in 2006 to 24 per cent in 2011. Preliminary indications are that this upward trend continues
Subsidy Reinvestment and Employment Programme (SURE-P)About 40 million employable Nigerians are unemployed and the number is increasing
Dr. Ngozi Okonji-Iweala:The Federal Government created 1.6 million jobs in 2012 and 431, 000 jobs in the first quarter of 2013,” the country is not creating enough jobs
Sources: Nigerian Bureau of Statistic – Unemployment report 2011
Unemployment lies at the core of poverty. For the poor, labour is often the only asset they can use to improve their well-being. Therefore, job creation is
essential for achieving poverty reduction, social development and sustainable economic growth
How Do We Tackle Unemployment?
Who is Responsible forJob Creation
The Government? Organized Private Sector? Individuals?
It is unlikely for any government to create jobs for the 220 million jobless Africans (Nigerians Inclusive), as such people have to become job creators and not job seekers
Who is An Entrepreneur
The Tale of Two Shoe Salesmen
Entrepreneurship is not about buying and selling; it is about having the ability to look at a challenge, identifying opportunities
and creating solutions. It is about being INNOVATIVE
United States
The global leader in Prestige Beauty
Founded in the 1946 (68 years) with staff strength of about 40,200 full-time employees worldwide
Listed on New York Stock Exchange with products sold in more than 150 countries
Core Focus: Estee Lauder Companies have grown on the key principles of creativity, innovation and entrepreneurship“The entrepreneurial talents of our employees are one of our key strengths…..”
Estee Lauder
United States
Henry Ford
Founded in Dearborn, Michigan on June 16, 1903 - now 111 years old
Ford Motor Company manufactures or distributes automobiles across six continents
It has bout 224,000 employees and about 90 plants worldwide
Core Focus:
Our people do not believe a man can ever leave his business. He ought to think of it by day and dream of it by night
Molson Coors Canada is North America's oldest brewery founded by John Molson in 1786 on the shores of the St. Lawrence in Montreal QuebecCanada
It operates in communities all over the world, capturing the local flavors of each region through strategic sourcing, and bringing them to drinkers everywhere
Core Focus:
• Two things make us who we are and give us the greatest competitive advantage:
- Our people and our brands
• We have built an employee culture around passion, focus, responsibility and results.
• We were started by pioneers. And pioneers are still in charge
South AfricaStarted in in Cape Town in 1845 and it has been serving its customers needs for over 165 years
With no capital, just the trust of like-minded individuals and the unwavering belief that together, people can achieve more than alone
Operates in 34 countries across Africa, Asia and Latin America
Listed on the Johannesburg, London, Zimbabwe, Malawi and Namibia stock exchanges
John Fairbairn
Core Focus:
We introduced a culture assessment tool to help us articulate the culture our employees want to be part of and where they think Old Mutual is today
The Pathway to Sustainable Economy is everybody’s responsibility. This is a duty call to embrace
Entrepreneurship.
Government is calling for it and Cutler through this platform unveils…