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Gloom and Doom on the Global Job Front

Posted on Apr 30, 2012
401K (CC BY-SA 2.0)

In the wake of the 2008 crash and the widespread government-imposed austerity that followed, high levels of long-term and youth unemployment across the globe are in danger of becoming fixed, according to an annual report by the International Labor Organization.

The ILO reported that the global employment rate dipped to 60.3 percent in 2011, a hair lower than the 2008 recession, and that youth unemployment rose in 80 percent of the world’s leading economies and in two-thirds of emerging economies. And in countries where employment was on the rise, the numbers often reflected an increase in part-time and temporary positions. —ARK

The Guardian:

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.”

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prisnersdilema's avatar

By prisnersdilema, May 2, 2012 at 8:11 am Link to this comment

Gloom and doom…...for the the 99 percenters…gluttony, and continued gluttony for the 1

Stuffing yourself, with wealth beyond measure, and riches beyond belief, takes a lot of
effort….and worst of all there may not even be enough time, not enough hours in the day
to enjoy it all… every, choice, means there are other pleasures that must be denied….

there is never enough, to satisfy…..desires that can never be satisfied…

Still the starving unemployed must be satisfied, with next to nothing, with hours of
heartache, and lives spent scrimping and saving, and hoping to no avail.
Their lives are sacrificed to the gluttony, and avarice, of those who carry a vomitorium

Austerity is for the masses, gluttony for the wealthy.

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By Jim C., May 1, 2012 at 10:56 pm Link to this comment
(Unregistered commenter)

Look up “peak oil recession” and dump the conspiracy theories. No energy growth = no economic growth, and growth needs to stop anyhow on this finite planet.

We are in an unprecedented geological predicament where our most useful energy source is being depleted in a bell-curve. The EROEI of remaining oil keeps declining, which means rising costs, and there are no financial tricks to cure this.

A steady-state economy is the sane way out of this mess, not more futile attempts at perpetual debt-based “growth” (which is really resource depletion masked by credit). We need a stable population where jobs are lost & gained by attrition, not government make-work policies and rising energy gluttony.

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americanme's avatar

By americanme, May 1, 2012 at 5:25 pm Link to this comment

Job front?  What job front?

The only jobs are hawking pirated merchandise.

Spain, as just one example, has an official figure of 25% unemployment.  Official.

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vector56's avatar

By vector56, April 30, 2012 at 4:01 pm Link to this comment

If one listens to NPR, MSNBC, What now passes for “Progressive” radio you would think things are starting to pickup. These “Obamabots” are noting more than the Corporate Democratic Parties Propaganda machine, just as FOX fills this function for the Republicans. 

Unless the airways and the internet can be “pried” from the hands of corporations Democracy will die in a cold dark room.

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By Big B, April 30, 2012 at 1:56 pm Link to this comment

All part of the master conspriacy my friends. The world economy was collapsed on purpose. The last part of the plan to insure global hegemoney over the masses. The oligrachs are harvesting the western world, trying like hell to prep for the resource wars to be fought with the East in the next two decades.

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