Worldwide unemployment hits new high

“Five years after the global financial crisis hit, unemployment numbers continue to soar, with a record 202 million people worldwide expected to be officially jobless this year, the International Labour Organization said Tuesday.  Last year saw a clear resurgence of the crisis, the UN’s labour body said in its annual report on global employment trends, pointing out that jobless numbers rose by four million to 197 million in 2012.  Last year, the global youth unemployment rate stood at 12.6 percent, and it was expected to rise to 12.9 percent by 2017, according to ILO.”

http://www.rawstory.com/rs/2013/01/21/worldwide-unemployment-hits-new-high-report/

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Japan’s poverty gap has politicians calling for rise in minimum wage

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“A majority of Japan’s population once considered themselves middle class, with income inequality lower than in other industrialized nations and almost full employment. Now, the ranks of those being left at the bottom of the world’s third-largest economy are swelling. The Health, Labor and Welfare Ministry announced last month that a record 2.1 million people are now receiving benefits and other financial assistance.  The JCP campaigns for a minimum wage of 1,000 yen ($12.80) an hour, paid for by tax increases for high earners and big business.”  [After 20 years of Zero-Interest-Rate Policy; America next…]

http://www.csmonitor.com/World/Asia-Pacific/2012/0814/Japan-s-poverty-gap-has-politicians-calling-for-rise-in-minimum-wage

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