UN Body Predicts Soaring Unemployment in 2013

Not so encouraging

A total of 197 million people were without jobs in 2012, with youth being particularly hard hit, and those unemployment figures will increase again this year, according to an International Labor Organization report released Monday.

The bulk of the 4 million newly unemployed in 2012 came from developing economies in East Asia, South Asia and Sub-Saharan Africa, according to the Global Employment Trends 2013 report.

The International Labor Organization, which is a United Nations agency responsible for overseeing international labor standards, made bleak projections of another increase in unemployment worldwide by 5.1 million in 2013—which would push the total to 202 million.