The post-financial crisis: Defiant global unemployment

Authors:
José Alberto López Rafaschieri and Luis Alberto López Rafaschieri
www.morochos.net

Although the elements that announce the end of the recession 2008-2009 are increasing, one of the factors that still threatens the economy is the worldwide unemployment.

Since the financial meltdown began, just in the U.S. and EU unemployment rates have doubled; thus, now the figures reflect that about 15 million Americans and 25 million Euro-Citizens are unemployed. What implies that currently there are more people not earning income than three years ago.

However, those are numbers from the first world, so we can try to imagine how the job market is in the rest of the planet. Studies of the World Labor Organization indicate that 240 million people are unemployed worldwide.

All this leads to a state that threatens the post-crisis phase of the actual recession. As these millions of unemployed face a situation that prevents them from affording their basic necessities, and that impede companies from recovering the volume of sales/production made before the globe's current crisis.

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