Global Unemployment Expected To Surpass 200 Million

Tyler Durden's picture

After dropping for the past two years, global unemployment is on the rise again according to the International Labor Organization, a UN jobs watchdog. 2013 is expected to top 200 million unemployed for the first time with the epicenter in the advanced economies as 28 million jobs have been lost since the onset of the crisis. Critically, for the globalists, they unsurprisingly note that macro imbalances have been passed on to the labor market to a significant degree.

Weakened by faltering aggregate demand, the labor market has been further hit by fiscal austerity programs in a number of countries, which often involved direct cutbacks in employment and wages, directly impacting labor markets. Far from the anti-cyclical response to the initial crisis in 2009 and 2010, the policy reaction has been pro-cyclical in many cases in 2011 and 2012.

Moreover, some 39 million 'discouraged' people have dropped out of the labor market as job prospects proved unattainable, opening a 67 million global jobs gap since 2007. However, regions that have managed to prevent a further increase in unemployment have experienced a worsening in job quality, as vulnerable employment and the number of workers living below or very near the poverty line increased. "These are people who,... have given up hope, ...and therefore they are not counted as unemployed but more as discouraged."

Global unemployment is on the rise once again - after two years of falling... and is expected to rise for the next two years at least...

One of the main drivers appears to be 'uncertainty'...

Many developed economies have seen a sharp rise in the unemployment rate mainly as a result of lengthening unemployment duration and rising long-term unemployment

 

But between 2007 and 2012, the biggest overall contributor to the decline in global employed-to-population ratio was a decline in labor force participation rates...

 

A modest silver lining perhaps is that there are signs of an emerging consumer working class in developing countries, potentially substituting for some of the consumption slowdown in advanced economies. With the crisis, however, progress in poverty reduction has slowed and could adversely affect growth of the emerging middle class. This will impact negatively on the capacity for developing economies to play a stronger role in supporting global economic activity and offer alternative engines of growth.

 

But of course, it is the youth unemployment that is most worrisome. So far, only Austria, Germany and Switzerland have managed to keep youth unemployment low. Some young people have started to return to or prolong education, to acquire new skills in order to improve their future labor market chances; others have dropped out completely or are increasingly frustrated in their job search without, nevertheless, returning to the education system.

This group of young people that is neither in employment, education nor training (NEET) has grown since the crisis, in particular among European crisis countries, and is expected to increase further as recessionary conditions continue to prevail in the Euro area.

 

Full report below:

World Jobs Report by

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Shizzmoney's picture

Emerging middle class?  The only thing "emerging" are the taxes on regular people.

Pool Shark's picture

 

 

200 million unemployed world-wide?

Heck, there are nearly 200 million non-working people in the USA alone!

 

Q: How many people work in the federal government?

A: Oh, about a third of them.

 

 

TruthInSunshine's picture

Remember that the U.N. has adopted the BLS model for tabulating unemployment/underemployment, so treat its "official" numbers with a large boulder of salt.

Pool Shark's picture

 

 

Yep, if there are 143 million Americans working; then there are right around 200 million not working:

http://www.deptofnumbers.com/employment/us/

 

cliffynator's picture

Sing along with me!

"We are the world...."

LeisureSmith's picture

I remember listening to ILO/IMF conference “The Challenges of Growth, Employment and Social Cohesion” back in 2010 when Strauss Kahn't (keep it in his pants) was still at the helm of the IMF. What struck me was that they seemed very scared (for their own skin) that the young and restless would come and bite them in the ass down the road. Although DSK would probably like that and has most likely paid someone to do just that at some point. 

 

secret_sam's picture

If the younger generations ever put down the video-game controllers and decide they don't necessarily HAVE TO live in the basement and subsist on Ramen noodles, look out.

The Juggernaut's picture

I hope to see a global Monetary Revolution.  Send Ron Paul videos to the Greeks and Spaniards.

knukles's picture

Hows about an emerging Western directed enemy for the long war?

http://www.independent.co.uk/news/world/africa/terror-in-north-africa-ar...

Can employ 'em all as mall cops

GetZeeGold's picture

 

 

14 trillion on a green economy......dig deep bitchez.....we're doubling down.

DAVOS CALL FOR $14 TRILLION 'GREENING' OF GLOBAL ECONOMY...

knukles's picture

Talk about the hypocrisy of the Haves suggesting that the best way to improve the lot of the Have Nots is by further raids upon the public purse.

Kings and peasantry.

You'd never guess that would entail higher taxes and tithing on the part of the peasantry now, wouldja?  While the Kings remove themselves to more favorably disposed domiciles

http://www.dailymail.co.uk/news/article-2266331/Nicolas-Sarkozy-Carla-Br...

krispkritter's picture

Can't wait for France to try and pass a 100% 'Exit Tax'.  'Just leave all your money at the border. Adieu!' Morons...

CPL's picture

I'm trying to figure out when the UN managed to count past 10 let alone have the time to release a report so riddled with obvious errors.

 

I suppose it's okay though.  Phony organization and phony numbers.  

otto skorzeny's picture

they have no troubles drafting legislation to ban small arms-beyond that they are helpless. speaking of UN/NWO lately I have noticed kids' military toys are painted the UN color scheme instead of the old generic olive drab military colors-coincidence?

kridkrid's picture

Interestingly, that's not what they called it, exactly. Here is the quote, "A modest silver lining perhaps is that there are signs of an emerging consumer working class in developing countries, potentially substituting for some of the consumption slowdown in advanced economies."

An emerging consumer working class... WTF is that supposed to mean? If you read that as "serfs who can trade labor for things available at the company store" I buy it. This whole report is propaganda.

Never One Roach's picture

It's a "jobless recovery."

 

Isn't that what they promised us?

ThirdWorldDude's picture

Yay, 'Bamaphones & EBT's handed out throughout the whole wide world. Just the thought of it makes globalists horny...

Stuck on Zero's picture

You don't suppose the growing global unemployment is correlated with the growth in governments do you?  Nah.  It couldn't be Socialism.  Must be reactionaries.

 

GMadScientist's picture

Agg Income, not seats.

Smuckers's picture

Emerging middle finger maybe.

knukles's picture

As our Reptilian Shape Shifting Illuminati Leaders would say, "Pull my tentacle."

 

('cause that's all you're gonna get, pissants)

Pharming's picture

So let me sum it up for all the sheep out there.  The "official" unemployment number for the world (according to our federal government assholes) is....wait for it.....

wait for it....

 

4.6%  

According to the Bernank this is just temporary...temporary....temporary....

Move along sheep, move along...

 

I just read all 239 pages and this is my summation.  Bite it fed.

"You know that marrying money is a full time job, I don't need the aggravation I'm a lazy slob ...Hang Fire..."

CPL's picture

Go look at how they count heads...absurd.  And where would they possibly have obtained the definition and the metrics?

Pharming's picture

I'm sorry, there is no way you can precisely figure any of this BS.  For God sakes look at our numbers!!!  You can fudge those "official" numbers by multiple percentages...the way they figure them now is so far out of whack it's embarrassing.  I try to explain these numbers all the time to people I work with and they look at me with a blank 1000 yrd stare and say, "Why would they do that?  Not show us the real rates?"  Then I look at them with the 1000 yard stare, snort, and get back to work.

kridkrid's picture

And they talk about you when you're not around :-).

Oh well... Oh well.

Pharming's picture

I'm sure of that...then layoffs came and they were like, "uhhh".

Never One Roach's picture

But they said they're, "official."

 

That means they're right, right?

Pharming's picture

Yes officially official.  They have the head bean counter's officially official signature on them...until they revise them...again...

news printer's picture
Japan hires top girlband AKB48 to sell government bonds

 

Japan's cash-strapped government is reportedly turning to popular music group AKB48 to help it sell government bonds, as interest in the low-yield paper wanes.

Never One Roach's picture

with each bond purchase you get a Free Love Doll:

 

http://www.diginfo.tv/v/11-0075-f-en.php

 

Your choice of dolls:

 

The dolls are widely divided into three types. The first type has a cloth body that is light, weighing 4 kg. The second type has a soft plastic body with detachable parts such as arms and legs. The third type has a silicone body that features a realistic skin material.

Temporalist's picture

With more people unemployed there is more work for me!  This is excellent news! (said some Krugmanite)

kridkrid's picture

Oh, I think there is a solution for that high youth unemployment rate. In fact, reading an article just yesterday, Sir David Attenborough should like the solution for things other than high unemployment. We all see where this is heading, right?

Desert Irish's picture

Let me guess calls for mandatory armed service.....

saints51's picture

Bingo!!!! Thats how I see this youth unemployment solved also.

kridkrid's picture

Ah, but you still have a resource problem there. The head count is too high. You need to take it to its logical conclusion.

ebworthen's picture

I'm discouraged.

DOT's picture

I'm discouraged and no amount of ecomomic recovery will get me to look for work.

Being discouraged= Having employment

 

Pharming's picture

I'm discouraged I'm not more depressed.  Nothing surprises me anymore...nothing shocks me anymore, I don't believe anything "official"...I just shake my head and go, "YEP another load of bull shit. NEXT!"

resurger's picture

let it heal naturally as per GW latest post lol

resurger's picture

Why are you, the US is No.1 Jobs "Destructor"

Be proud!

Rainman's picture

The moar importanter chart is how many of those 200 million own guns and ammo.

ebworthen's picture

Yes, they just need to be pissed off enough to use them to put down their oppressors.

francis_sawyer's picture

 "International Labor Organization, a UN jobs watchdog"

~~~

Yes folks ~ You read it right... [now go "hire" somebody to wipedown your keyboard for you]...

michael_engineer's picture

Don't worry. Economists have jobs and unemployment under control. They are measuring with micrometers, marking with chalk, and cutting with fire axes. It's all good.

Temporalist's picture

Did you all hear that?  That is the collective cheer of the kleptocrat central bankers in unision

"Well print moar!  We'll fix it for sure!"

thismarketisrigged's picture

dont worry, its irrelevant. the fed will keep pumping and this market will continue to not care about fundementals.