BERLIN (January 21, 2013)—The International Labor Organization, the United Nations’ labor agency, warns in a new report that the lingering effects of the global economic crisis mean that unemployment will continue to rise even though world economies are expected to pick up.
The report says the net number of unemployed people rose by 4 million in 2012 to some 197 million overall and it’s expected to rise by 5.1 million in 2013, and by another 3 million in 2014.
“An uncertain economic outlook, and the inadequacy of policy to counter this, has weakened aggregate demand, holding back investment and hiring,” ILO Director-General Guy Ryder said.
The global unemployment rate during the crisis peaked at 6.21 percent in 2009 and was 5.93 percent in 2012.
It's expected to reach 6.01 percent in 2013 and 2014.