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Record High Employment in the World to continue until 2017 – ILO

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.

“Unemployment remains as dire as it was during the crisis in 2009,” Ekkehard Ernst, chief of the employment trends unit at the ILO, which wrote the report, told CNBC.

While the crisis may have originated in the developed world, the report noted that 75 percent of 2012′s newly unemployed came from outside it, with East Asia, South Asia and Sub-Saharan Africa being the worst affected.

CNBC

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May
23
Today’s Global
Market Events
1:00am

JPY
BOJ Monthly Report
3:00am

EUR
French Flash Manufacturing PMI
(F)44.8 (P)44.4
EUR
French Flash Services PMI
(F)44.7 (P)44.3
3:30am

EUR
German Flash Manufacturing PMI
(F)48.6 (P)48.1
EUR
German Flash Services PMI
(F)50.2 (P)49.6
4:00am

EUR
Flash Manufacturing PMI
(F)47.1 (P)46.7
EUR
Flash Services PMI
(F)47.4 (P)47
EUR
Italian Retail Sales m/m
(F)0.3% (P)-0.2%
4:30am

GBP
Second Estimate GDP q/q
(F)0.3% (P)0.3%
GBP
Prelim Business Investment q/q
(F)1.7% (P)-0.8%
GBP
Index of Services 3m/3m
(F)0.7% (P)0.1%
6:05am

USD
FOMC Member Bullard Speaks
8:30am

USD
Unemployment Claims
(F)347K (P)360K
9:00am

USD
Flash Manufacturing PMI
(F)51.6 (P)52.1
USD
HPI m/m
(F)0.9% (P)0.7%
10:00am

EUR
Consumer Confidence
(F)-22 (P)-22
USD
New Home Sales
(F)429K (P)417K
10:30am

USD
Natural Gas Storage
(F)90B (P)99B
3:30pm

EUR
ECB President Draghi Speaks
6:45pm

NZD
Trade Balance
(F)468M (P)718M
10:55pm

JPY
BOJ Gov Kuroda Speaks