Americas

Americas

Mexicoâ€™s Calderon asks G20 countries for bold measures to create jobs

19 May 2012 03:40 (UTC +04:00)

Baku-APA. Mexicoâ€™s President Felipe Calderon Friday asked the labor ministers of G20 member economies to adopt "bold measure" to promote employment, APA reports quoting Xinhua.

At the closing ceremony of the G20 Labor and Employment Ministers Meeting in the Mexican western city of Guadalajara, Calderon said "I donâ€™ t have any doubt that we have to be bold and to meet our societiesâ€™ expectations."

According to the Organization for Economic Cooperation and Development (OECD) and Mexicoâ€™ s National Institute of Statistics and Geography (INEGI), the countryâ€™ s unemployment rate in May reached 5.1 percent, less than the G20 member economiesâ€™ average rate of 8.2 percent. Nevertheless, INEGI said that informal working in Mexico reached 28.76 percent, which means that 14 million Mexicans lack formal job.

The Mexican President also warned that there is "a great fragility" in the world economy due to the uncertainty in the euro zone, adding that according to the International Labor Organization (ILO), there are about 200 million jobless people in the world.

The G20 Labor and Employment Ministers Meeting was opened on Thursday afternoon, as part of efforts to prepare for the G20 Summit, which will be held in June in Mexican resort Los Cabos.