Category Archives: Economic Development

Youth Unemployment Hits 15-Year Low, But Challenges Persist for Young Workers, Says UN Labour Agency

The global youth unemployment rate has reached a 15-year low, according to the latest report by the UN International Labour Organization (ILO). However, young workers, especially in low-income countries and certain regions like Asia, the Pacific, and Arab States, are struggling to benefit from the post-COVID economic recovery.

Despite a global decline in youth unemployment to 13% in 2023—lower than pre-pandemic levels—the recovery remains uneven, with rising joblessness in East Asia, the Arab States, and Southeast Asia and the Pacific. The ILO’s report highlights significant disparities in job security, with only one in four young workers in low-income countries securing stable employment, compared to three in four in wealthier nations.

The report also sheds light on the challenges faced by young women, who are twice as likely as men to be “NEET” (Not in Employment, Education, or Training). Gender bias remains a significant issue, with the global NEET rate for young women more than double that of young men in 2023.

The ILO emphasizes that creating decent work opportunities is crucial for social justice and the global economy, especially in the face of demographic trends like Africa’s “youthquake.” The report calls for urgent action to address inequalities in the labour market and ensure that young people have the opportunity to build secure futures.

Key findings from the ILO’s Global Employment Trends for Youth 2024 report include a shortage of high-skill jobs, particularly in middle-income countries, and the need for skills development to keep pace with evolving demands in green and digital industries. The ILO underscores that without equal access to education and decent work, millions of young people will miss out on a better future.


The original article

Global Hunger Setback by 15 Years: UN Report Warns of Growing Crisis

Published on July 24, 2024

The fight against global hunger has been significantly set back, with around 733 million people experiencing hunger in 2023—equivalent to one in eleven people globally and one in five in Africa, according to the latest UN State of Food Security and Nutrition in the World (SOFI) report. This alarming trend suggests that progress toward the Sustainable Development Goal (SDG) of Zero Hunger by 2030 is severely off track.

Key Findings:

  • Hunger Statistics: Between 713 million and 757 million people were undernourished in 2023, an increase of about 152 million since 2019.
  • Regional Disparities: Africa is the hardest hit, with 20.4% of its population facing hunger, while Asia remains stable at 8.1%. Latin America has seen slight improvements but still faces significant challenges.
  • Drivers of Hunger: Conflict, climate extremes, and economic downturns are the primary drivers of hunger, particularly in Africa.
  • Food Insecurity: In 2023, approximately 2.33 billion people globally were moderately or severely food insecure, nearly matching the numbers seen during the COVID-19 pandemic.
  • Economic Barriers: A staggering 2.8 billion people could not afford a healthy diet in 2022, with stark contrasts between high-income and low-income countries.

Progress and Challenges:

Despite some advances, such as increased exclusive breastfeeding rates and a slight reduction in stunting among children under five, global hunger levels have remained static for three consecutive years. Moreover, adult obesity continues to rise, projected to affect over 1.2 billion adults by 2030.

COVID-19 Impact:

The pandemic has exacerbated food insecurity, particularly in low-income countries. By 2022, the number of people unable to afford a healthy diet reached its highest level since 2017 in these regions, highlighting the widening inequality caused by COVID-19.

Call to Action:

The report emphasizes the need for increased, cost-effective financing and a standardized approach to food security and nutrition. Transforming agrifood systems, addressing inequalities, and making healthy diets affordable and accessible are critical to achieving SDG 2: Zero Hunger. UN agency heads stress that substantial investment is necessary to close the financing gap and enhance global food security efforts.

FAO Chief Economist Maximo Torero highlights the urgency: “We need to understand that our agri-food systems are under increasing risk and uncertainty due to climate change…donors must adopt greater risk tolerance to activate effective finance.”

For more detailed insights, visit the original report on the United Nations website

China Dominates Global Generative AI Patents: UN Report

tech

3 July 2024 – Economic Development

A recent report from the UN World Intellectual Property Organization (WIPO) reveals that China-based inventors are leading in the number of generative artificial intelligence (GenAI) patents filed globally. Between 2014 and 2023, over 38,000 GenAI patents originated from China, which is six times more than those filed by inventors in the United States, the second-highest country in this regard.

GenAI: A Revolutionary Technology

Generative AI, or GenAI, enables users to create various content types, including text, images, music, and software code. This technology powers a wide array of industrial and consumer products, such as chatbots like ChatGPT, Google Gemini, and Baidu’s ERNIE.

According to WIPO Director General Daren Tang, “GenAI has emerged as a game-changing technology with the potential to transform the way we work, live, and play.” The WIPO report highlights that since the introduction of deep neural network architecture in 2017, the number of GenAI patents has surged by over 800 percent through 2023, reflecting significant technological advances and the vast potential of GenAI.

Shaping the Future of GenAI

Tang added that by analyzing patenting trends and data, WIPO aims to provide insights into where this rapidly evolving technology is being developed and its future direction. “This can help policymakers shape the development of GenAI for our common benefit and ensure that we continue to put the human being at the center of our innovation and creative ecosystems,” he said.

Key Findings of the Report

The report notes that GenAI patents currently represent 6 percent of all AI patents globally. The top ten applicants for these patents include:

  1. Tencent (2,074 inventions)
  2. Ping An Insurance (1,564)
  3. Baidu (1,234)
  4. Chinese Academy of Sciences (607)
  5. IBM (601)
  6. Alibaba Group (571)
  7. Samsung Electronics (468)
  8. Alphabet (443)
  9. ByteDance (418)
  10. Microsoft (377)

Geographically, China (38,210 inventions) leads the field, followed by the US (6,276 inventions), Republic of Korea (4,155), Japan (3,409), and India (1,350).

In terms of data types, image and video data dominate GenAI patents (17,996 inventions), followed by text (13,494) and speech or music (13,480). Additionally, patents involving molecule, gene, and protein-based data have grown rapidly, with 1,494 inventions since 2014 and a 78 percent average annual growth over the past five years.

For more details visit the original website