United Nations' International Labour Organization (ILO) has forecasted that unemployment will rise by about 2.5 million this year globally.
In its annual World Employment and Social Outlook report published on Monday, ILO said the number of people unemployed around the world stands at around 188 million. In addition, 165 million people don't have enough paid work, and 120 million have either given up actively searching for work or otherwise lack access to the labour market.
Besides, more than 470 million people worldwide lack adequate access to paid work as such or are being denied the opportunity to work the desired number of hours.
ILO also warned that a lack of access to decent jobs was contributing to social unrest.
However, the global unemployment rate has remained relatively stable over much of the past decade, according to the ILO.
"For millions of ordinary people, it's increasingly diﬃcult to build better lives through work," said ILO Director-General Guy Ryder.
"Persisting and substantial work-related inequalities and exclusion are preventing them from ﬁnding decent work and better futures. It is an extremely serious ﬁnding that has profound and worrying implications for social cohesion," he added.
Though eradicating poverty is an important element of the UN's 2030 Agenda for Sustainable Development but, according to the ILO study, moderate or extreme working poverty – deﬁned as earning less than the equivalent of $3.20 per day – is expected to edge up in 2020-21 in developing countries.
Commenting on the issue, ILO Bangladesh Country Director Tuomo Poutiainen said, "According to the World Employment and Social Outlook Report 2020, insufficient creation of decent work, combined with high population and a lack of inclusiveness, make it very difficult to improve working conditions and reduce poverty in low-income countries in South Asia (Bangladesh, India and Pakistan).
"There is a real need to invest in people's capabilities, such as life-long learning, gender equality, and social security. A sustainable and inclusive path of development can only be achieved if labour market inequalities and gender gaps in access to decent work are tackled."
Inequalities related to gender, age and geographical location continue to plague the job market, with the report showing that these factors limit both individual opportunity and economic growth.
About 267 million young people aged 15-24 are not in employment, education or training and many more endure substandard working condition, ILO said in the report.
The rise in trade restrictions and protectionism, which could have a significant impact on employment, is seen as a potentially worrying trend, as is the significant drop in the share of national income in the form of wages, compared to other forms of production.