Austerity regulations endanger jobs

The austerity regulations shadow the job perspective in the world, according to the 2012 rapport on the work places in the world of the World Organization of Work which is supposed to be published on Monday in Geneva.

According to the rapport assumed by France Presse, almost 202 million people will be unemployed this year, 6 more million than last year.

“Our provisional cipher estimated for 2011 shows that the overall unemployment would be almost 196 million and that we will reach 202 million in 2012, increasing with 6 more million, and in 2013 at 207 million, another 5 more million.”

“We will reach an unemployment rate of almost 6,1 percent in 2012”, has declared the director of the International Institute of Social Studies of the World Organization of Work, Raymond Torres.
According to the organization with the center in Geneva, it is less probably that the world economy to increase in a rhythm sufficiently supported in the following 2 years in order to solve, at the same time, the actual job deficit problem and to supply jobs for 80 million people who would be supposed to arrive on the labour market within the same period.

The trends are especially concerning in Europe, where the unemployment rate has increased in almost two thirds of the countries starting 2010, according to the World Organization of Work rapport.

Among other things, the experts outline, the revival of labour market has also reached “a dead end” in other advanced economies, as Japan and USA.

“The austerity did not produce a more increasing economy”, has outlined Raymond Torres, showing that “counter-productive austerity regulations have led to a weak economic growth and to job destructions without substantially reducing the budgetary deficits.”

The unemployment from Euro area, at a historical maximum

The unemployment rate from EU has advanced in February at 10,2 percent from 10,1 percent in January and compared to 9,5 percent in the same period of last year.

Within the Euro area, the unemployment has increased in February at 10,8 percent, a new record, from 10,7 percent in January, respectively 10 percent in the same period of last year, according to the presented data at the beginning of April by Eurostat.

Eurostat estimates that 24,5 million men and women from EU, among which 17,1 million within Euro area did not have a job in February 2012.

The number of unemployment people within Euro area has increased with 1,47 million in the last 12 months, at 17, 13 million.

Among the member states, the highest rates of unemployment were recorded in Spain (23,6 percent) and Greece (21 percent), and the lowest in Austria (4,2 percent), Holland (4,9 percent), Luxembourg (5,2 percent) and Germany (5.7 percent).


Translated by Alexandra-Diana Mircea
MTTLC, Bucharest University