• Switzerland edition
 
World's jobless set to exceed 200 million
ILO headquarters in Geneva. Photo: Wkimedia Commons

World's jobless set to exceed 200 million

Published: 22 Jan 2013 10:49 GMT+01:00
Updated: 22 Jan 2013 10:49 GMT+01:00

The figures indicate that in these two years alone nine million people would have joined the ranks of people officially registered as unemployed and that the cost so far of the financial crisis which began five years ago is an extra 28 million people officially without jobs.
   
"This figure means that today there are 28 millions more unemployed people around the world than they were in 2007," before the crisis, ILO chief Guy Ryder told reporters in Geneva on Monday.

Last year's unemployment number inched up towards the all-time record of 199 million reached at the epicentre of the crisis in 2009, but "we will beat that record in 2013", an expert for the ILO, which is the labour arm of the United Nations, told AFP.

Another 5.1 million people are expected to join the jobless ranks this year, bringing the total number to more than 202 million.

That number is expected to rise by another three million in 2014 and should hit 210.6 million by 2017, ILO said, adding that the global unemployment rate was expected to stay steady at six percent until then.

However, analysts often point out that official unemployment data reflects those people who satisfy the conditions for being registered as unemployed, and that official data does not necessarily capture large numbers of people who would like to have officially registered work but do not feature in any statistics.

"The trends are very much (going) in the wrong direction," Ryder said, lamenting a "noticable worsening of the unemployment situation around the world".

The impact of the economic crises on the global labour market had in many cases been worsened by incoherence between monetary and fiscal policies and "a piecemeal approach" to the problems, especially in the eurozone, the report said.

"Weakened by faltering aggregate demand, the labour market has been further hit by fiscal austerity programmes in a number of countries, which often involved direct cutbacks in employment and wages," it said.

At the same time, "labour force participation has fallen dramatically . . . masking the true extent of the jobs crisis," the ILO said, pointing out that 39 million people dropped out of the labour market altogether last year as job prospects became increasingly gloomy.

Young people have been especially hard-hit by the expanding jobless trend, the UN agency said, pointing out that there are currently some 73.8 million youths, aged 15 to 24, without work worldwide.

"And the slowdown in economic activity is likely to push another half million into unemployment by 2014," the report cautioned.

Last year, the global youth unemployment rate stood at 12.6 percent, and it was expected to rise to 12.9 percent by 2017, according to the ILO.

"The crisis has dramatically diminished the labour market prospects for young people, as many experience long-term unemployment right from the start of their labour market entry," the UN agency said, adding that it had never seen anything similar during previous downturns.

Today, about 35 percent of all young people on the dole in advanced economies have been out of work for six months or longer, up from just 28.5 percent in 2007, the report showed.

Nina Larson/AFP (news@thelocal.ch)

Don't miss...X
Left Right

Your comments about this article

Today's headlines
Cable car worker plunges to death in safety check
View of Gant-Hohtälli cable car tower. Photo: Valais cantonal police

Cable car worker plunges to death in safety check

A 39-year-old worker checking a cable car during a safety inspection died on Tuesday afternoon after falling from a pylon near Zermatt in the canton of Valais, cantonal police said. READ  

Switzerland's Bencic knocked out of US Open
Peng was too much for Bencic, shown here in action. Photo: Matthew Stockman/Getty Images North America/AFP

Switzerland's Bencic knocked out of US Open

Unseeded Peng Shuai of China swept past Swiss teen Belinda Bencic 6-2, 6-1 on Tuesday to reach the US Open women's tennis tournament semifinals. READ  

Witnesses sought after police car runs over man
The police car was responding to an assault complaint in Payerne. Photo: Alain Rouiller

Witnesses sought after police car runs over man

Investigators are seeking witnesses after a police car ran over a 22-year-old man who died on the A1 motorway in the canton of Fribourg last week as officers responded to a call from another man the victim had been in contact with, who reported having been assaulted. READ  

Tories pledge to expand UK expat voting rights
Tories promise expat Brits the right vote in the UK for the rest of their lives — if they win re-election. Photo: Hagwall/Flickr

Tories pledge to expand UK expat voting rights

The Conservative party in the UK is wooing expat voters by pledging to end the controversial “15-year rule” that prevents thousands of Brits in Switzerland and millions elsewhere abroad from being able to vote. READ  

Swiss economy slows down in second quarter
Graph showing GDP growth over past five years. Source: Seco

Swiss economy slows down in second quarter

The Swiss economy ground to a halt in the second quarter of this year with the country’s GDP (gross domestic product) unchanged from the first three months of 2014, government figures released on Tuesday show. READ  

Nude selfies secretary agrees to step down
Woman taking a selfie (not the secretary involved in Bern). Photo: Getty Images/AFP

Nude selfies secretary agrees to step down

A Swiss parliament secretary who posted naked selfies on her Twitter account after posing for the photos in her government office has agreed to give up her job. READ  

Wawrinka overcomes cramps in New York win
Photo: Al Belo/Getty Images North America/AFP

Wawrinka overcomes cramps in New York win

The Swiss third seed Stan Wawrinka battled cramps and a frightening fall on Monday but emerged with a gutsy four-set victory over Tommy Robredo and a quarterfinal place in the US Open tennis tournament. READ  

Burkhalter hails Second World War mobilization
Swiss President Didier Burkhalter. Photo: FDFA

Burkhalter hails Second World War mobilization

Swiss President Didier Burkhalter on Monday thanked the country’s citizens who mobilized 75 years earlier to defend the mountain country when the Second World War broke out. READ  

Swiss pay UK and Austria over tax dodging
Photo: Fabrice Coffrini/AFP

Swiss pay UK and Austria over tax dodging

Switzerland said on Monday that it had completed a programme to pay Britain and Austria hundreds of millions of euros in settlements for past tax-dodging by their citizens. READ  

Japan Novartis unit failed to report 'drug deaths'
Photo: Sebastien Bozon/AFP

Japan Novartis unit failed to report 'drug deaths'

The Japanese unit of Swiss pharma giant Novartis has admitted it did not report more than 2,500 cases of serious side effects in patients using its leukaemia and other cancer drugs, reportedly including some fatalities. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Sponsored Article
Car insurance made easy online with St Bernard
National
Swiss residents pick Swedes as ideal European soul mates: survey
National
Zurich officials call project to move prostitutes to 'sex boxes' a success
National
Swiss gays recognized as parents of child born to surrogate mother
Health
Increase in mountain bike accidents keeps Swiss hospitals busy
National
Swiss policeman belatedly honoured for saving Jews from Holocaust
National
'Suicide tourists' to Switzerland double in three years: study
National
Swiss Post SMS scheme gets stamp of approval after pilot project
Business & Money
American tax evasion crackdown hits Swiss private banks' bottom line
Politics
Woman accuses Swiss politician in nude selfies scandal of lying
National
Villagers in Graubünden valley reject hydro plant to protect vultures
Business & Money
Court rules against appellation for absinthe from Neuchâtel valley
National
Two hundred passengers rescued after landslide derails Swiss train
Travel
Switzerland remains world champion for per capita train travel
Culture
Social media backlash forces Polanski to bow out of Locarno film festival
National
Two policemen identified among three Israelis killed in train crash
Features
Untouched Alps: The Local explores Switzerland's only national park
National
Swiss government secretary tweets nude ‘selfies’ taken at work
International
Swiss couples fined in Ibiza for making love in van without seatbelts
National
Schumacher medical record theft suspect hangs himself in Zurich cell
National
Thousands of motorists drive without permits in Switzerland: report
National
Switzerland celebrates the centennial of national park in Graubünden
National
Animal rights group protests over dead fish throwing at festival
National
Federer forced to tear down kids' play area at Graubünden holiday home
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

2,034
jobs available