• Switzerland's news in English
 

World's jobless set to exceed 200 million

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

Blast kills one at Swiss-owned Montenegro plant

One person was killed and seven others injured in a blast on Sunday at a Swiss-owned weapons factory in Montenegro, police said. READ  

Ultralight plane pilot dies in Swiss mountain crash
Le Moléson looms over the castle in Gruyères. Photo: Switzerland Tourism

Ultralight plane pilot dies in Swiss mountain crash

A 62-year-old man died on Sunday after crashing an ultra-light motorized (ULM) plane into Le Moléson mountain in the canton of Fribourg, just four days after such aircraft were authorized for use in Switzerland, police said. READ  

Moroccan journalist on hunger strike in Geneva
Ali Lmrabet Moroccan journalist in Geneva. Photo: Fabrice Coffrini/AFP

Moroccan journalist on hunger strike in Geneva

A Moroccan journalist on hunger strike in Geneva, who was previously jailed for insulting the Moroccan king and is now being denied a passport, was told Sunday to return home to plead his case. READ  

Greece crisis
Greece 'wants tax assets hidden in Swiss banks'
Photo: Leon Neal/AFP

Greece 'wants tax assets hidden in Swiss banks'

Athens wants a tax amnesty deal for Greeks who have stashed cash in Swiss banks, in a bid to bring much-needed revenue to the debt-laden country, a Swiss newspaper reported on Sunday. READ  

Wimbledon 2015
Federer through to the last 16 of Wimbledon
Federer on his way to victory over Groth. Photo: Tim Ireland/AFP

Federer through to the last 16 of Wimbledon

Seven-time champion Roger Federer defeated big-serving Australian Sam Groth to reach the Wimbledon last 16 on Saturday. READ  

Swiss cut bus and train fares as ozone spikes
Revellers throw water during a "giant water battle against the heatwave" in Lausanne. Photo: Fabrice Coffrini/AFP

Swiss cut bus and train fares as ozone spikes

Regional authorities in Switzerland temporarily cut bus and train fares Saturday to encourage people to leave their cars at home, as a scorching heatwave sent ozone pollution levels soaring. READ  

Solar Impulse 2 reaches Hawaii to make history
Pilots Bertrand Piccard (L) and André Borschberg, celebrate after Borschberg landed at Kalaeloa Airport, Hawaii, on Friday. Photo: Eugene Tanner/AFP

Solar Impulse 2 reaches Hawaii to make history

Switzerland's Solar Impulse 2 aircraft completed a historic flight in its quest to circle the globe without consuming a drop of fuel, touching down gracefully in Hawaii on Friday after the most arduous leg of its journey. READ  

Wimbledon 2015
Verdasco victory sends Wawrinka to fourth round
Photo: Justin Tallis/AFP

Verdasco victory sends Wawrinka to fourth round

Switzerland's Stan Wawrinka reached the fourth round of the Wimbledon tennis tournament on Friday with a 6-4, 6-3, 6-4 win over Spain's Fernando Verdasco. READ  

Solar Impulse 2 nears Hawaii on historic flight
Borschberg in the cockpit of the solar plane. Photo: Solar Impulse

Solar Impulse 2 nears Hawaii on historic flight

After more than four and a half days of flying across the Pacific and setting a record for solo flight, Switzerland’s Solar Impulse 2 airplane was set to arrive in Hawaii on Friday on its epic journey around the world. READ  

Sponsors will flee Fifa without reforms: lawyer
Photo: AFP

Sponsors will flee Fifa without reforms: lawyer

A former top Fifa official who left after criticizing its president Sepp Blatter has warned that big sponsors will start leaving world football's Zurich-based governing body unless major reforms are undertaken. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
National
National weather office extends danger alerts as heatwave takes hold
National
Most severe heatwave in Switzerland since 2003 on the way
Travel
Bogglingly expensive Geneva club sandwiches remain 'priciest in world'
Politics
Anti-immigration nationalist party remains most popular: poll
National
Greek finance minister slams Swiss over lack of tax evasion info
Business & Money
Insects proposed for sale in Swiss supermarkets next year
Sponsored Article
Geneva's revolutionary marketing education
National
'Oh God — I'm coming': noisy lovers' complaint goes public
National
Canton of Ticino threatens closing Italy border to asylum seekers
Sponsored Article
Swiss chocolate with a story: Blondel
National
Just in case: Swiss National Bank prepares for Grexit 'crisis'
National
Russian crisis fuelled by sanctions threaten 40,000 Swiss jobs: study
National
Art Basel: Art for art's sake — or to make an investment?
National
New survey ranks Zurich Europe's priciest city for expatriates
National
Quarter of residents in Switzerland 'have multiple homes'
Features
Veggie lovers and 'flexitarians' challenge Swiss meat-eating habits
National
Forest officials struggle to save Switzerland's dying ash trees
Education
Historian finds ancient Egyptian papyrus texts in Basel uni library
National
Seven large Swiss employers back 'flexible work' charter
National
Basel police rescue of ducks forces closure of A2 motorway
National
Mother and daughter die as rain storms lash central Switzerland
Sport
'Stan the man' Wawrinka: French Open triumph 'completely crazy'
Culture
Expat's Zurich 'then and now' video shows how little the city has changed
National
Phoney Geneva police officers rob tourists and UN staff
Sport
Blatter's abrupt resignation seen as a 'stunning capitulation'
Features
Cleanup crews head to ski resorts to keep Swiss mountains tidy
Culture
Interlaken museum showcases works by Picasso using Caran d'Ache pencils
National
Low interest rates give tenants right to seek rent reductions in Switzerland
Sport
Switzerland's Blatter fends off critics to win fifth term as Fifa president
National
Agricultural researchers discover why Swiss cheese has holes
Culture
Swiss filmmaker returns home to shoot 'gender-fluid' film in Ticino
Features
Severed rope recalls Matterhorn's first ascent 150 years ago
National
Top Swiss court refuses to recognize child's two gay 'fathers'
National
Woman's scoop for Ticino online news site: 'I killed my husband'
National
Four Swiss bathing areas 'unfit' for swimmers: Euro environmental body
Technology
Scientists from Zurich university find craters beneath Lake Neuchâtel
National
Prince William in Switzerland backs fight to protect endangered species
National
Swiss Federal Railways rely on sheep to 'mow' grass alongside tracks
Sport
Switzerland to host 2020 international ice hockey tourney
Business & Money
I never learned German: departing Credit Suisse CEO's regret
Sport
International tennis museum in US showcases Federer hologram
National
Inequality greater than most Swiss think: opinion poll for unions
National
Shooting in Switzerland leaves five dead in domestic drama near Zurich
National
Swiss Federal Railways tackle taboo subject of suicide in bid to cut deaths
National
German expats in Switzerland face discrimination: report
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

4,361
jobs available