Wednesday, January 23, 2013

Austerity Destroying Jobs: Global Recovery a Myth


Worldwide “Jobless Numbers”: Global Unemployment Hits Record High, Declining Living Standards Annual Global Employment Trends report, the International Labour Organization (ILO)

[Excerpted] World unemployment could hit record levels this year and continue rising until 2017, a United Nations agency reported Monday. In its annual Global Employment Trends report, the International Labour Organization (ILO) forecasts that jobless numbers around the world will rise by 5.1 million in 2013 to 202 million people, topping 2009’s record of 198 million.

Five years after the outbreak of the global financial crisis, world economic growth has decelerated and unemployment has begun to increase again. The ranks of the working poor are also on the rise, while large numbers of “discouraged workers” are dropping out of the labor market altogether.

The trends examined in the ILO report expose the fraudulent claim in Barack Obama’s inaugural address Monday that “an economic recovery has begun”—in the United States or elsewhere. On the contrary, a systemic crisis of the world capitalist economy is destroying jobs, particularly for the world’s youth, and plunging greater numbers of people into poverty. The austerity measures of governments around the world are further exacerbating this process....

read the entire article linked above to get a sense of the ongoing collapse in economic opportunity that is occurring around the globe, coinciding with the ongoing collapse of the ecosystem.


Dec 22, 2012
The "dispossession" of the population through risk shifts and austerity programs has been an ongoing concern of mine, and the subject of a book project I've been developing. Its my belief that this dispossession is being ...
Jan 18, 2013
The data I've been collecting for my book on neofeudal dispossession indicate dramatic declines in household income, particularly among young people (including college graduates) and minorities. The Obama health ...
Jan 02, 2012
[i] Instead, this project focuses on the consolidation of wealth and power and the amplification of economic and political dispossession in the wake of the financial crisis that began in 2007. Emerging in the aftermath of the ...
Jul 30, 2011
The document describes a world “dividing into two blocs—the plutonomies, where economic growth is powered by and largely consumed by the wealthy few, and the rest” (p. 1). The U.S. is a “key” plutonomy characterized by ...

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