THE unemployment rate in the Asia Pacific region will remain unchanged this year from what it was last year, the United Nations has announced in its annual Social and Economic Survey of Asia and the Pacific report.
The UN's Economic and Social Commission for Asia and the Pacific forecast unlikely changes this year to the 10.2 per cent unemployment rate that was recorded for last year.
The UNESCAP said wage increase should be carried out in line with better productivity gains, amid concerns over the unemployment rate across regional economies.
And although the unemployment rate in Asia and the Pacific fell only slightly, from 4.3 per cent in 2010 to 4.2 per cent last year, the region continued to face the problem of jobless growth, with developing countries failing to generate sufficient opportunities in the formal sector.
The comments were made during the launch of the UN's annual Economic and Social Survey of Asia and the Pacific report.
Commissioned by the UN's Economic and Social Commission for Asia and the Pacific, the report said the problems were greatest for young people, who were three times more likely to be unemployed than adults.
"The youth unemployment rate for the Asia and the Pacific is projected to remain at 10.2 per cent in 2012," the report said.
The slowdown in employment rate should allow for improved productivity, better working conditions, reduced inequality and sustainable and inclusive development, the report said.s