“In a February video message to his millions of supporters, US President Barack Obama told them that US had lost 3.6 million jobs since the recession began. But this is dwarfed by the worries of the International Labour Organization (ILO) which predicted in its annual publication, Global Employment Trends, that eighteen to fifty million workers will lose their jobs this year alone and two hundred million are likely to be thrown into extreme poverty” (The World Today, March 2009, Volume 65 Number 3 Page 5).
The survey carried out by the Indian Labour Ministry indicated that about 500,000 people have lost their jobs in just three months in 11 sectors of the economy. The Federation of Indian Export Industries have raised alarm that 10 million jobs are likely to be lost in the months ahead. China has also lost similar jobs and about 68,000 factories had closed in their coastal provinces as at mid October 2008.
The case of Japan appears to be worse than that of the United States and the European Union. Japan has suffered an immense economic recession due mainly to her high exposure to the slump in global car manufacturing, electronics, and investment equipment. “Russia has been hit hard by the global crisis, with the stock market down almost 80% from its peak, and the rouble sliding fast. Russia’s top 10 billionaires alone lost an estimated $150 billion last year” (The Guardian newspapers of UK, Tuesday 3 March 2009, page 15).
In the UK, a job will be lost every 25 seconds. Experts have also warned that about 320,000 jobs will be lost in the next three months as the recession hits harder. I wrote extensively on the global economic crisis which I titled; Capturing The Casualties From The Global Credit Crunches. (Published on Sunday, 14th December 2008 on http://briefsfromakuta.blogspot.com/). The global economy has deteriorated more, since my article was first published.
“The International Monetary Fund has identified 26 countries, half in sub-Sahara Africa, that are particularly vulnerable to the crisis. Central and Eastern European economies are estimated to face a financing gap of $100 billion in 2009. And the World Bank estimates that 129 developing countries are facing a financing shortfall of between $270 and $700bn” (The Guardian newspapers of UK, Tuesday 10 March 2009, page 31).
Having said the above, I will ask the government both at the federal and state levels to make some policy changes in our educational sector. The change am propounding is to make skills acquisition a compulsory subject/course in the primary, secondary, tertiary and university levels. If English Language, mathematics, and Gss courses are compulsory in secondary schools and universities, then I see no reason why skills acquisition should not be made compulsory. The idea will be to produce graduates with skills. Skilled people don’t need to search for jobs like unskilled people. Low level job creation is needed to reduce unemployment in Nigeria. Job creation is highly needed this period of global economic recession.
The author Mr. Chinedu Vincent Akuta is an activist and leader of “Support Option A4 Group” Leicester-UK and can be reached via firstname.lastname@example.org