World unemployed 'set to hit a record 202 million'

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The Independent Online

The global dole queue will stretch to a record 202 million this year as another five million people are thrown out of work around the world, the International Labour Organisation warned today.

The UN jobs watchdog predicts an even bigger rise in unemployment this year than the 4.2 million increase seen last year, taking the global jobless rate to 6 per cent.

ILO director general Guy Ryder said: "An uncertain economic outlook, and the inadequacy of policy to counter this, has weakened aggregate demand, holding back investment and hiring.

"This has prolonged the labour market slump in many countries, lowering job creation and increasing unemployment duration even in some countries that previously had low unemployment and dynamic labour markets."

In Europe, unemployment is expected to be much higher than the global average, peaking at 8.7 per cent. Almost 34 per cent of job seekers have been unemployed for 12 months or longer.

Almost 74 million people in the 15-to-24 age group are out of work, a 12.6 per cent rate.