Gallup Chairman and CEO Jim Clifton warns that the real unemployment rate in the world is above 50 percent and that the next global war will be fought over good jobs.
“What everyone in the world wants is a good job. This is one of Gallup's biggest discoveries ever, yet almost no leader in the world knows this,” he told South Korea's Chosun Ilbo newspaper.
“Of the 7 billion people in the world, there are 5 billion adults aged 15 and older. Of these 5 billion, 3 billion tell Gallup they desire a full-time job. Only 1.3 billion actually have a good job, which means that the real unemployment rate in the world is over 50%,” he said.
“The brutal reality is we're not creating enough good jobs to meet the will of the world — the global will to have a good job,” he said. “Not meeting that need will accelerate global instability. My message is that it is possible to turn things around quickly — we just need to get very serious and intentional about it,” he said.
He said Gallup defines a good job as one with 30-plus hours of work a week with a consistent paycheck from an employer.
“A great job is a job in which you believe your boss cares about your development, you can use your strengths every day at work, and you believe your work makes a contribution to something,” he said.
Meanwhile, the job market may be on more unstable footing than most people realize despite the 280,000 new U.S. jobs added in May.
“Labor-market indexes produced by the Federal Reserve and the privately run Conference Board each show the job market growing at a slower pace now compared to the end of last year,” MarketWatch reports.
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