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Could Millions More Become Jobless, Despite Growth?

The U.N. labor 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.

Unemployment Line
Joe Raedle, Getty Images

The International Labor Organization said in a report released 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.

ILO Director-General Guy Ryder says “An uncertain economic outlook, and the inadequacy of policy to counter this, has weakened aggregate demand, holding back investment and hiring.”

The global unemployment rate during the crisis peaked at 6.21 percent in 2009 and was 5.93 percent in 2012. It’s expected to reach 6.01 percent in 2013 and 2014.

 

(Copyright 2013 by The Associated Press. All Rights Reserved.)

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