World unemployment rising

Last updated 14:16 22/01/2013

Relevant offers

World

The Aussie pubs with no Carlton beer as strike passes 100 days Australia clamps down on misleading consumer reviews, but rules differ here Award winning Method recycling business fast tracks Australian export plan ANZ blinked first in settlement with billionaires Pankaj and Radhika Oswal US grants Airbus, Boeing a chance to sell airplanes to Iran McLaren steers away from Apple buyout rumours US Fed holds off on raising interest rates, leaves them just above zero Blow for Uber as Finnish court orders two drivers to give up earnings UK's red phone boxes being turned into micro-offices Oops! Saudia Airlines flight crew's botched job sparks hijack scare, which they mistakenly confirmed

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