Unemployment On The Rise World Wide

WASHINGTON – The International Labor Organization (ILO) has seen an increase in unemployment across the globe.

According to ILO there are currently 200 million people without work world wide; that’s 27 million more than before the financial crisis began 4 years ago.

The statistics are based on a study prepared for the World Economic Forum (WEF) which is taking place later this week in Davos, Switzerland.

For most countries the current employment level is still well below what is was before the financial crisis devastated the world’s economic climate.

Reportedly, only Germany and Australia managed to increase their employment levels in 2011 above the levels they recorded before the crisis struck.

Young workers are hit hardest by the increase in global unemployment.

“Except for Germany, Switzerland and Austria, no other country managed to increase employment for the young generation in 2011,” reports the ILO.

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 World Economy Is In Trouble

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