An International Comparison of Employment in Recovery

In: National Institute economic review: journal of the National Institute of Economic and Social Research, Band 214, S. F35-F40

Abstract

While the global economic recovery remains fragile, output in most of the major advanced economies has been rising since mid-2009. Employment, however, tends to lag production, and unemployment continued to rise well into 2010 in many countries. The ILO estimates that the level of unemployment remains elevated by 30 million worldwide relative to 2007 (ILO-IMF, 2010). After taking into account global population developments, this points to a rise in the global unemployment rate of about ¾ percentage point. As the advanced economies have been faced with the brunt of the global downturn, unemployment rates have risen far more significantly within the OECD area. The unemployment rate in this region remains 2.9 percentage points higher than at the beginning of 2008.