Jan 25, 2011

ILO warns on stubborn global unemployment rate

It seems that the 1930’s depression era rare 9%+ unemployment rate in the USA is supposedly being taken for granted.  Amid this the International Labour Organization has warned that the recent so called off-shoots and advocated spanned economic recovery is not translating into job creation in the glob as the jobless rate in the globe remained at an all-time high of 205 million for the year 2010.
This rate has not changed from
what it stood in the year 2009, despite the presence of indicators that the world economy has indeed recovered from the worst credit crisis led depression of this century.  The specialized agency of United Nations further added that this world unemployment number is even higher what it was at 203.3 million jobless at the time of the crisis in 2007.
            The Geneva headquartered agency also predicted the global unemployment rate at 6.1% or 203.3 million through the year 2011. It also mentioned that just half of the unemployment occurring since 2007 happened in industrialized economies and the EU. Noticeably it added that in developing countries such as Brazil, Kazakhstan and Tahilan, jobless tares have fallen below pre-crisis levels.

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