UN labour agency reports rise in global unemployment during 2012
The International Labour Organisation (ILO) has said that unemployment in the world has increased, with six percent of the world's workforce being jobless in 2012.
The United Nations labour agency added that the worst affected were mostly people under the age of 24, and warned that the number of unemployed people, which rose to 197 million in 2012, is expected to rise further, reports BBC News.
ILO Director-General Guy Ryder said that an uncertain economic outlook, coupled with inadequate policies has weakened aggregate demands, leading to the rise in unemployment.
According to the report, global unemployment was projected to rise by 5.1 million this year and by a further 3 million in 2014.
The report also stated the need for putting in more funds in vocational training to prepare the youth for the available jobs.