World unemployment rising

Last updated 14:16 22/01/2013

Relevant offers

World

Australian Reserve Bank reveals probe into dollar spike Graeme Hart slips a place on Forbes rich list, Bill Gates tops Greece debt crisis revives doubts about euro Brazil cracks down on protesting truckers after violence China cuts rates again in face of weak demand, deflation risk Number of new Australian millionaires hits five-year high Spiritual singer on death row with Bali nine duo How earthquakes linked to fracking are fracturing an Oklahoma community Teen earns $500,000 a year babysitting Simon Marais loses battle with cancer

The UN labour agency warns that the lingering effects of the global economic crisis means unemployment will continue to rise - even though world economies are expected to pick up. 
 
The International Labor Organisation said in a report released on Tuesday the net number of unemployed people rose by 4 million in 2012 to some 197 million overall. It is expected to rise by 5.1 million in 2013, and by another 3 million in 2014.
 
"An uncertain economic outlook, and the inadequacy of policy to counter this, has weakened aggregate demand, holding back investment and hiring," ILO Director-General Guy Ryder said.  
 
The global unemployment rate during the crisis peaked at 6.21 per cent in 2009 and was 5.93 per cent in 2012. It's expected to reach 6.01 per cent in 2013 and 2014.

Ad Feedback

- AP

Special offers

Featured Promotions

Sponsored Content