Global Unemployment Number Continues To Soar In 2013

Bangalore: Unemployment numbers continue to rise even five years after the global financial crisis had hit, with 202 million people globally expected to be officially unemployed this year, said the International Labour Organisation.

Unemployment numbers went up by 4 million to 197 million in 2012, said the UN's labour body in its annual report on global employment trends, as reported by AFP.

ILO chief Guy Ryder was quoted by AFP, "This figure means that today there are 28 million more unemployed people around the world than they were in 2007," before the crisis.

It is estimated that another 5.1 million people will join the jobless ranks in 2013, making the total number to more than 202 million. ILO said that the number is expected to increase by another three million in 2014 and is supposed to hit 210.6 million by 2017. It also said that the global unemployment rate is likely to stay steady at 6 percent until then.

The report said that the impact of the economic crises on the global labour market had in many cases been worsened by mismatch between monetary and fiscal policies, particularly in the Eurozone.

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