More than 470 million people worldwide are currently unemployed or underemployed, the UN said on Monday, warning that a lack of access to decent jobs was contributing to social unrest. The global unemployment rate has remained relatively stable over much of the past decade, according to the UN's International Labour Organization.
UK’s powerhouse financial sector would face heightened risk and an exodus of 232,000 jobs without certainty over Britain’s Brexit deal, MPs in the House of Commons have heard. Xavier Rolet, chief executive of the London Stock Exchange Group (LSE), said two thirds of the job losses would be felt outside Greater London, with the blow coming as soon as the euro clearing operation leaves Britain’s shores.
Greeks and Spaniards are moving to northern Europe in growing numbers, the Organization for Economic Cooperation and Development (OECD) said this week, as soaring unemployment rates and fiscal austerity erode living standards in the south.
European Central Bank President Mario Draghi dismissed a German-led push for the bank to start planning a retreat from emergency crisis-fighting, but stressed it was keeping a close eye on price pressures.
About 20,000 young people angry over high unemployment have spent the night camping in a famous square in Madrid as political protest grows. A big canvas roof was stretched across Puerta del Sol square, protesters brought mattresses and sleeping bags and volunteers distributed food.
US employment recorded a second straight month of solid gains in March and the jobless rate fell to a two-year low of 8.8%, (from 8.9% in February) marking a decisive shift in the labour market.
President Cristina Fernandez de Kirchner announced Friday that Argentina’s economy is 2010 expanded 9.1% and unemployment in the fourth quarter experienced a further drop and now stands at a record low of 7.3%.
US unemployment remains too high for policymakers' comfort despite signs of strength in the economic recovery, Federal Reserve Chairman Ben Bernanke said. In testimony to the US House of Representatives' Budget Committee that largely echoed a speech he delivered last week, Bernanke also warned about the dangers of unsustainable budget deficits.
To have low unemployment is something most countries would be proud of and not moan about. However, in Uruguay unemployment is at an all-time low of 6.1% and is causing concern among economists, human resource companies and businesses, reports the BBC.