United Nations Forecasts Persistently High Unemployment for the Young
The clouds of the global financial crisis may have lifted, but six years later, the world economy is not creating nearly as many jobs as it was before 2008, a United Nations report on Wednesday concluded, nor is it expected to in the near term. That is a particularly worrisome fact at a time when more young people are entering the job market than ever before.
The economies of developed countries are likely to grow at 2 percent this year and 2.4 percent in 2015, a faster clip than in the two previous years, the report said. But job growth is projected to be “stubbornly slower” than in the pre-financial crisis years, the report warned.
Global unemployment remained stuck at 6 percent in 2013. In the developed world, long-term unemployment continued to rise, and in Africa and Asia, informal employment accounted for as much of 50 percent of all jobs… MORE