25 Jan '11, 2am

The ILO warned that world unemployment is still at a record high of 205 million, impacting recovery

The ILO warned that world unemployment is still at a record high of 205 million, impacting recovery

A group of graduates wait in queue before attending a company's briefing session as they look for a job in Tokyo. -- PHOTO: AP GENEVA - THE International Labour Organisation warned on Monday that the global economic recovery was not translating into jobs as world unemployment remained at a record 205 million for 2010. 'Despite a sharp rebound in economic growth for many countries, official global unemployment stood at 205 million in 2010, essentially unchanged from 2009, and 27.6 million more than on the eve of the global economic crisis in 2007,' the ILO said. 'The ILO projects a global unemployment rate of 6.1 per cent, equivalent to 203.3 million unemployed, through 2011,' it added. Just over half of the unemployment occurring since 2007 happened in industrialised economies and the European Union, according to the UN labour agency. Many young people reaching working age...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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