Third Of Global Workers Either Unemployed Or Impoverished

One in three workers worldwide is either living in poverty or unemployed -- a share that totals about 1.1 billion people -- according to the International Labour Organization's Global Employment Trends 2012 report. And the employment crisis may actually be worse than many think. The report found that if all of the nearly 29 million workers that were expected to participate in the labor force before the 2008 financial crisis were taking part, than the global unemployment rate would swell to 6.9 percent from its current 6 percent. As it stands now, those workers have simply become discouraged and dropped out of the workforce.

One factor driving the global jobs crisis could be the elevated levels of unemployment in many countries in the eurozone, which is currently in the midst of crisis. In Spain, the unemployment rate was 22.9 percent as of November, while in Greece the unemployment rate is 18.8 percent. And citizens the world over seem to be concerned.Unemployment is the globe's fastest rising worry, according to a December BBC poll.

"Despite strenuous government efforts, the jobs crisis continues unabated," ILO Director-General Juan Somavia said in the report. "What is needed is that job creation in the real economy must become our number one priority."

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Global Jobs Crisis: Third Of Global Workers Either Unemployed Or Impoverished
by  Jillian Berman