Tuesday, May 1, 2012

[RED DEMOCRATICA] Ranks of global unemployed are rising on heels of European austerity

 

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Ranks of global unemployed rising on heels of European austerity

Austerity measures undertaken throughout Europe in response to the global financial crisis have not resulted in more growth, as projected, but have had "devastating consequences" on the job market, according to a report by the UN's International Labor Organization. The number of unemployed throughout the world was projected to climb to 202 million this year, up from 196 million in 2011 -- a trend expected to reach still more "alarming" jobless rates in 2013 with "no signs of recovery in the near future." Spiegel Online (Germany) (4/30), The Globe and Mail (Toronto) (5/1) LinkedInFacebookTwitterEmail this Story



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