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World Unemployment to Hit Record High in 2013

Posted by WARREN MOSLER on January 22nd, 2013

World Unemployment to Hit Record High in 2013: ILO

By Katy Barnato

January 22 (CNBC) — World unemployment could top record levels this year and continue rising until 2017, the International Labour Organization (ILO) said on Tuesday in its annual employment report.

2009 currently stands as the worst recorded year for world unemployment, with 198 million people across the globe without work.

In its 2013 Global Employment Trends report, the ILO forecasts unemployment numbers will rise by 5.1 million in 2013 to reach 202 million, topping 2009′s record.

The report also predicts unemployment will rise further in 2014 to reach 205 million.