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Ear to the Ground

Unemployment: It Ain’t Over Till It’s ... 2015

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Posted on Oct 1, 2010
AP / Manu Fernandez

Riot police confront demonstrators on Wednesday during a general strike against the Spanish government’s austerity measures.

Those waiting for recovery from unemployment woes might have to wait a bit longer. The U.N.’s International Labor Organization has warned that it may take until 2015 for the global economy to bounce back to pre-crisis employment levels. Meantime, look for more social unrest of the kind now unfolding across Europe.

Protests related to the crisis have already been reported in at least 25 countries. —JCL

The Guardian:

The International Labour Organisation (ILO) has warned of growing social unrest because it fears global employment will not now recover until 2015.

This is two years later than its earlier estimate that the labour market would rebound to pre-crisis levels by 2013. About 22 million new jobs are needed – 14 million in rich countries and 8 million in developing nations.

The United Nations work agency today warned of a long “labour market recession” and noted that social unrest related to the crisis had already been reported in at least 25 countries, including some recovering emerging economies.

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By morristhewise, October 3, 2010 at 6:15 am Link to this comment

Millions of voters are deeply angered due to the recession , but it is not because of
high unemployment, very few have lost their jobs, it is because they have seen
their property values cut in half, they are the ones that will leave the Democratic
Party. Most of those that are out of work do not vote, they have no impact on
anything except the entertainment industry.

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By Big B, October 1, 2010 at 1:47 pm Link to this comment

bpawk

Don’t worry, americans have just not sunk low enough yet to protest. Give it a couple of more years for radical repugs to try and form a theocratic successionist government in Texas (or some other podunk state) and for middle of the road dimmos to look into the mirror and realize that our last two democratic presidents were just republicans that liked women and mexicans, tolerated blacks, and pretended to like homosexuals.

Americans are indeed lazy, but our nation has been a shithole on the wane for about 20 years now. But don’t fret, we are armed to the teeth, and stoned on prescription meds and cheap booze. Once we get done watching porn on the net, we will realize that we are flat broke, and then will we be pissed!

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By bpawk, October 1, 2010 at 12:07 pm Link to this comment

The article says that there will be more social unrest of the kind now unfolding across Europe, however the last time Americans protested was during the Vietnam War which is some 40 years ago. Despite all the Wall Street bailouts, high unemployment and huge deficits, I have yet to see any social unrest in America. I don’t really know what people are waiting for - if you took all the words in citizen blogs and newspaper blogs about the mess we are in and instead took all that anger and energy and directed it to protesting, much more would be done to help the poor/middle class. I suspect though that people are afraid to step on Obama’s toes because there’s no one else, having decimated the left (Nader et al) a long time ago. For the poor and middle class, there’s only one card to play - Obama - so I guess we’ll see no social unrest in America.

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