ILO: Global Unemployment to Rise Again {pretty big news}

[xchrom]

http://www.voanews.com/content/unemployment-world/1588243.html

GENEVA — The International Labor Organization reports nearly 200 million people worldwide are without jobs, and it forecasts higher unemployment this year. The ILO’s “Global Employment Trends 2013” report warns the high level of youth unemployment is of particular concern.

The International Labor Organization reports the number of unemployed worldwide rose by 4.2 million in 2012 after falling for two straight years. It says one-quarter of that increase is in the advanced economies, while three-quarters is in developing economies in East and South Asia and Sub-Saharan Africa.

The report finds a further 39 million people around the world have dropped out of the labor market and are not counted in the jobless rate. It says the average duration of unemployment has increased significantly, with one-third of all job seekers in developed countries being unemployed for one year or longer.

ILO Director-General Guy Ryder says future prospects are not good, as the forecast global economic recovery is not expected to be strong enough to bring down unemployment quickly.

[xchrom]

1. Grim outlook for global unemployment

http://www.ft.com/cms/s/0/da424996-646f-11e2-9711-00144feab49a.html#axzz2IhysEe35


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GENEVA, Jan 22 - The global jobless queue will stretch to more than 200m people this year, the International Labour Organization said in its annual report on Tuesday, repeating a warning it has made at the start of each of the last six years.
The UN jobs watchdog estimates unemployment will rise by 5.1m this year to more than 202m, and by another 3m in 2014, following a rise of 4.2m in 2012.

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f those predictions are right, global unemployment will hit a record. But the ILO has revised its jobless figures down each year as the number of those giving up the job hunt altogether swells, meaning they are no longer classed as unemployed.
A Reuters analysis of previous ILO reports shows that estimates of unemployment made in each of the last six years have subsequently been cut. The original 2007 joblessness figure of 189.9m is now put at 169m – 11 per cent lower.

[LiberalEsto]

2. Oh yay.

Unemployed for over 4 years. Now it will probably take another 4 years before I find a job or even freelance work.