Unemployment has risen in two-thirds of European countries since 2010 as austerity hit growth and jobs, the International Labour Organisation has said.
In its annual world of work report, the Geneva-based ILO warned that the weaknesses in the labour market were becoming ingrained, with high levels of long-term and youth unemployment.
The study found there were still 50 million fewer jobs in the global economy than before the recession began in 2008 and it was unlikely that growth would be strong enough in the next two years to find jobs for an extra 80 million people looking for work.
Raymond Torres, director of the International Institute for Labour Studies and author of the report, said: “This is not a normal employment slowdown. Four years into the global crisis, labour market imbalances are becoming more structural, and therefore more difficult to eradicate. Certain groups, such as the long-term unemployed, are at risk of exclusion from the labour market. This means they would be unable to obtain new employment even if there were a strong recovery.”
The ILO said the global employment rate in 2011 stood at 60.3% – 0.9 percentage points lower than before the synchronised global downturn began four years ago. It added that youth unemployment had risen in 80% of advanced economies and in two-thirds of emerging market economies. Long-term unemployment was also on the rise, with one third of the jobless in the west out of work for more than a year.
Even in countries where employment growth was on the rise, the ILO said jobs tended to be on a short-term basis, with increases in involuntary part-time employment and part-time temporary employment.
Torres said: “The trends are especially worrying in Europe, where the unemployment rate has increased in nearly two-thirds of these countries since 2010; but labour market recovery has also stalled in other advanced economies, such as Japan and the United States. Elsewhere, employment gains have weakened in terms of the needs of a growing, better educated working-age population, as in China. And jobs deficits remain acute in much of the Arab region and Africa.”
He added that many countries in southern Europe were caught in an “austerity trap” in which budget cuts led to higher unemployment and lower growth, resulting in an even worse fiscal position.
[Photo of Occupy Frankfurt movement via Patrick Poendl / Shutterstock.com]
Trump has been ‘insulated’ by his wealth to never have to learn from his mistakes: biographer
President Donald Trump's inherited wealth has meant he's never had to learn from his mistakes, Trump biographer Tim O'Brien told MSNBC's Brian Williams on Thursday.
"Bloomberg Opinion writer and our next guest Tim O’Brien writes today, 'Yes, of course, you need a certain kind of appalling narcissism to be comfy promoting yourself as heaven-sent in a televised press briefing and as a deity on Twitter. It’s doubly unhinged when you’re doing this as president,'" Williams said. "He goes on 'The Trump of the past few weeks is the same disordered figure of the past several decades with, I suspect, a big dollop of something new blended in: unbridled and unmanageable panic.'"
‘Both Putin and Xi will be voting Trump in 2020’: NYT columnist says Russia and China want ‘turmoil and chaos’
The Russian Federation and the People's Republic of China are both rooting for President Donald Trump to win re-election in 2020, a New York Times columnist argued on MSNBC on Thursday.
Thomas Friedman was interviewed by Lawrence O'Donnell on "The Last Word."
"What do we know about how the leaders of other countries see Donald Trump at this stage in their dealings with him?" O'Donnell asked. "Especially this weekend, when it comes at the end of a week in which they’ve heard him call himself the King of Israel, they have heard him say he is The Chosen One. They have heard all the crazy things that everyone here has heard the president say."
Trump is ‘not a stable genius’: GOP strategist says the president ‘doesn’t remember who and where he is’
President Donald Trump's mental fitness is lacking, a top Republican strategist explained on "The Last Word" with Lawrence O'Donnell.
Rick Wilson, the author of the 2018 bestselling book Everything Trump Touches Dies: A Republican Strategist Gets Real About the Worst President Ever, blasted the commander-in-chief.
"Rick Wilson, your assessment of where the president stands as he heads off to the G7 summit?" O'Donnell asked.
"I think Donald Trump has had a week in which he is proving that this isn’t 87-dimensional chess game, this isn't some masterful strategy of communications or persuasion," Wilson replied. "This is an old man who is sick and who has problems and who has mental disconnects and who has aphasias and who has moments where he doesn’t remember who and where he is."