• Switzerland's news in English
 
app_header_v3

World's jobless set to exceed 200 million

Nina Larson/AFP · 22 Jan 2013, 10:49

Published: 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)

Your comments about this article

Today's headlines
Prison for woman who faked Swiss airport bomb threat
Geneva airport. Photo: eGuide Travel

The 41-year-old French mother of four provoked a massive security scare at Geneva airport.

Hot weather causes forest fire fears in Valais
Bonfires are traditionally lit to celebrate Swiss National Day. Photo: Marcus Gyger/Swiss Tourism

National Day fireworks and bonfires should be staged with caution, says the canton.

Swiss National Day: five traditions all expats should try
Want to learn to play the alphorn? File photo: Christof Sonderegger/Swiss Tourism

Celebrate Swiss National Day on August 1st by learning these proud Swiss traditions.

Swiss bank bounces back from losses
File photo: Emmanuel Dunand

Credit Suisse is back in profit following a first quarter dip.

Man falls to his death over dropped ski pole
The site of the accident. Photo: Valais cantonal police

Frenchman dies after he went to pick up a dropped ski pole and fell 200 metres down a mountain.

Young migrant injured after jumping from window
The girl was staying in a centre for asylum seekers in Zweisimmen. Photo: Vasile Cotovanu

A 15-year-old girl due to be deported from Switzerland is in hospital after jumping from a window.

Woman faked airport bomb threat over marital tiff
The bomb threat caused a big security alert at Geneva airport. File photo: Richard Juilliart

Wednesday's bomb threat was invented by a woman who wanted to get revenge on her husband’s mistress.

Bencic joins Federer in opting out of Rio

The Swiss is the latest top 20 tennis star to pull out of Olympics.

Swiss sports court heads to Rio Olympics
CAS has relocated from Lausanne (pictured) to Rio to deal with doping matters. Photo: CAS

The Lausanne-based Court of Arbitration for Sport (CAS) has temporarily relocated to Rio so it can make rulings over Olympic doping from the scene.

Police step up security at Geneva airport after tip-off
File photo: eGuide Travel

UPDATE: Police gradually withdraw security measures put in place this morning after an unspecified threat against the building.

File photo: Chase Elliott Clark
Lifestyle
Study: a fifth of Swiss spy on neighbours
Photo: Katwarn.de
National
Switzerland mulls alarm text message service
Photo: The Local
National
Study: grazing cows are worse for the environment
Sponsored Article
Why expats choose international health insurance
Photo: Kecko
National
Terror fears trigger Swiss run on guns
Sponsored Article
Why you should attend an international job fair
Photo: Commune d'Ayent
National
Spectacular Valais ‘bisse’ to feature on new banknote
Photo: Swiss Post
National
Swiss Post moves to accept debit cards – sometimes
Photo: Chris Marquardt
Lifestyle
Police break up dispute over late-night laundry
Sponsored Article
Five things Americans should know about voting abroad
Photo: Grand Tours Project
Features
Why you should get on your bike in Switzerland
Sponsored Article
Why Swiss hospitality graduates are in demand
Photo: The Local
Society
Swiss village tells landlords: don’t rent homes to refugees
Photo: Rolf Krahl/Christophe G
International
Survey: world willing to pay more for ‘Swissness’
Photo: The Local
International
Chaos in Como after Swiss send back refugees
Photo: AFP/The Local
Lifestyle
Nine top celebrity hotspots in Switzerland
Photo: Graubunden police
National
World-class Swiss climber Norbert Joos dies on ‘home mountain’
Photo: Kathleen Waters
Society
Italian ‘ignored’ by Swiss schools in language wars
Sponsored Article
Why you should attend an international job fair
Photo: Whitepod
Features
The quirkiest places to stay in Switzerland
International
Migrant busted trying to sneak into Switzerland in a suitcase
Sponsored Article
Why Swiss hospitality graduates are in demand
Photo: Jonathan Kos-Read
National
Basel suffers wettest six months for 150 years
Photo: Georges Gobet/AFP
Technology
Why Swiss science could suffer badly from Brexit fallout
Sponsored Article
Why expats choose international health insurance
Photo: Robert Valencia
International
Swiss couple in Nicaragua told to give back adopted daughter
Photo: Zurich cantonal police
National
Police hunt prisoner on the run in Zurich murder case
Photo: Christoph G
Politics
Switzerland sets out law on expelling foreign criminals
Photo: Bernacqua
Lifestyle
Drone shocks nudists at Swiss waterpark
Photo: Basel Justice and Security Dept
Lifestyle
New signs lay down law and order for Basel prostitutes
4,637
jobs available