Five years after the global financial crisis hit, unemployment numbers continue to soar, with a record 202 million people worldwide expected to be officially jobless this year, the International Labour Organization (ILO) said yesterday.
Last year saw a clear resurgence of the crisis, the UN’s labor body said in its annual report on global employment trends, saying that jobless numbers rose by 4 million to 197 million last year.
“This figure means that today, there are 28 millions more unemployed people around the world than they were in 2007,” before the crisis, ILO Director-General Guy Ryder told reporters in Geneva on Monday.
Last year’s unemployment number inched up toward the all-time record of 199 million reached at the epicenter of the crisis in 2009, but “we will beat that record in 2013,” an ILO expert said.
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 3 million next year and should hit 210.6 million by 2017, ILO said, adding that the global unemployment rate was expected to stay steady at 6 percent until then.
The impact of the economic crises on the global labor 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.