A tally by the International Labor Organization shows the world will have to add 80 million jobs over 2012 and 2013 just to get back to where employment was in 2007. The reckoning is that the developed nations need to generate 27.2 million jobs in the next two years to return to normal. But the likelihood is that only 2.5 million will materialize, or a woefully shocking 25 million fewer than necessary.
As for the developing nations, even though they've been growing somewhat more aggressively than their more developed counterparts, their employment prospects aren't exactly coruscating, either. They'll have something in the neighborhood of 53 million slots to fill in the next couple of years, but the projection is for the addition of 38 million jobs, or 15 million shy of that mark.
Joseph Quinlan, chief market strategist of U.S. Trust offers this commentary:"millions of dissatisfied and idle workers are a combustible political-economic variable that will keep politicians and investors on edge for the foreseeable future. Nothing saps the confidence or the animal spirits of consumers, businesses and investors more than the ugly images of rioters in the streets."
Markets. Business. Life. by LoneRngr (screen name) is licensed under a Creative Commons Attribution 2.5 Canada License. Based on a work at marketsbusinesslife.blogspot.com.Permissions beyond the scope of this license may be available at http://marketsbusinesslife.blogspot.com/.
