Global Unemployment to Hit 202 Million While Wealth of Top 1% Has Increased by 60%
Global Unemployment to Hit 202 Million While Wealth of Top 1% Has Increased by 60%
Economic inequality between the rich and the working class is prevalent on an international scale, as evidenced by the latest numbers on unemployment and wealth accumulation.
A new report (pdf) produced by the International Labour Organization (ILO), a United Nations agency, says the number of jobless people worldwide is now more than 197 million, with another 39 million having given up looking for work. It points out that 73.8 million of those unemployed are youths.
The ILO added that the total number of unemployed workers is projected to increase by 5.1 million in 2013, bringing the total to 202 million. Still another three million will be thrown out of work by 2014, according to the report.
Unemployment in the euro zone currently stands at 11.8%, and 7.8% in the United States.
While hundreds of millions struggle to find a job, the wealthy are sitting atop more money than ever. A report (pdf) from Oxfam found that the incomes of the top 1% globally have increased 60% in 20 years, and “the growth in income for the 0.01% has been even greater.”
http://www.allgov.com/news/where-is-the-money-going/global-unemployment-to-hit-202-million-while-wealth-of-top-1-has-increased-by-60-130126?news=846866
