Global Jobless Numbers Likely to Rise This Year
From VOA Learning English, welcome to Economics in Special English. The International Labor Organization says nearly 200 million people are without jobs around the world. And the ILO is warning of even higher unemployment this year. The United Nations agency released a report called "Global Employment Trends 2013." It says the number of unemployed worldwide rose by more than 4 million last year from the year before. The report says one fourth of this increase was in developed economies. The remaining 75 percent was in mainly developing economies in Asia, and in African countries south of the Sahara Desert. The report also says an estimated 39 million people stopped looking for work last year. The average length of unemployment increased sharply in developed economies. One-third of all job seekers in wealthy countries were unemployed for a year or more. The ILO's Director-General, Guy Ryder, says the world's economic recovery is not expected to be strong enough to reduce unemployment quickly. His group says the labor market is especially hard for young people. The ILO says 12.6 percent of people between the ages of 15 and 24 are unemployed worldwide. It says more and more young people, who experience long-term unemployment, stop looking for work. This prevents them from gaining needed on-the-job experience. Guy Ryder says, to create jobs, all countries must provide more predictable policies. He says these include measures to raise wages and support buying. He says countries should enact reforms to strengthen their banking industries, so banks can provide credit. For VOA Learning English, I'm Carolyn Presutti.