Financial crisis ‘led to the loss of 7m jobs’
James Moore is the Independent's Associate Business Editor and writes the Outlook City comment column from Tuesday to Friday. He also has a keen interest in disability issues and when not attempting to further injure himself playing wheelchair basketball.
Monday 30 September 2013
The human cost of the financial crisis was the obliteration of 7m jobs across the developed world since the second quarter of 2008, a report by PricewaterhouseCoopers says today.
The report also warns that unemployed people in member countries of the Organisation for Economic Co-operation and Development are taking much longer than usual to find alternative employment after losing their jobs.
The historic average of seven months between redundancy and new work has extended to 10 months. The authors warn that this will have a “detrimental impact” on people’s skill levels.
The United States appears to be worst affected, and Pricewaterhouse-Coopers warns that American business will have to step up the amount of money they allocate to pay for training as a result.
The authors of the report say that this “human cost” of the crisis needs to be taken into account by policymakers as they prepare to gather at the annual meeting of the World Bank-International Monetary Fund next month.
- 1 What marriage would look like if we actually followed the Bible
- 3 The Chinese city where men have 'three girlfriends because there are so many women'
- 4 'Heartbreaking' Syria orphan photo wasn't taken in Syria and not of orphan
- 5 Orthorexia nervosa: How becoming obsessed with healthy eating can lead to malnutrition
Britain to take more refugees as Cameron bows to pressure after more than 250,000 back our campaign
Senior British politicians tell David Cameron: When dead children are being washed up on beaches – it's time to act
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
If these extraordinarily powerful images of a dead Syrian child washed up on a beach don't change Europe's attitude to refugees, what will?
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
Make your voice heard: Sign The Independent's petition to welcome refugees
iJobs Money & Business
£16000 - £40000 per annum: Recruitment Genius: A Foreign Exchange Dealer is re...
£20000 - £40000 per annum + OTE + Incentives + Benefits: SThree: Established f...
£20000 - £25000 per annum + OTE 40/45k + INCENTIVES + BENEFITS: SThree: The su...
£14000 - £16000 per annum: Recruitment Genius: This company was established in...