Population Matters

Global unemployment rises

Global unemployment rises

The world could face years of jobless economic recovery, with young people set to be hit hardest as global unemployment continues to rise this year, a report from the International Labour Organisation warns. As the World Economic Forum kicks off in the Swiss town of Davos on Wednesday with a focus on growing inequality, the ILO has highlighted a “potentially dangerous gap between profits and people”.

The UN agency forecasts millions more people will join the ranks of the unemployed as companies choose to increase payouts to shareholders rather than invest their burgeoning profits in new workers. The ILO’s Global Employment Trends report forecasts that world unemployment will rise to 6.1% this year from 6% in 2013 and will remain well above its pre-crisis rate of 5.5% for several years.

Guardian report

Follow us