World unemployment rising

Last updated 14:16 22/01/2013

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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.

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- AP

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