“Don’t go around saying the world owes you a living. The world owes you nothing. It was here first.”
-Mark Twain
By Tom Miles
GENEVA | Mon Jan 21, 2013 6:49pm EST
(Reuters) – The global jobless queue will stretch to more than 200 million people this year, the International Labour Organization said in its annual report on Tuesday, repeating a warning it has made at the start of each of the last six years.
The U.N. jobs watchdog estimates unemployment will rise by 5.1 million this year to more than 202 million, and by another 3 million in 2014, following a rise of 4.2 million in 2012.
If those predictions are right, global unemployment will hit a record. But the ILO has revised its jobless figures down each year as the number of those giving up the job hunt altogether swells, meaning they are no longer classed as unemployed.
A Reuters analysis of previous ILO reports shows that estimates of unemployment made in each of the last six years have subsequently been cut. The original 2007 joblessness figure of 189.9 million is now put at 169.0 million – 11 percent lower.
Figures for 2008-2010 have also fallen by 10-15 million from the original estimates.
Most of the drop is due to people giving up looking for work, said Jose Manuel Salazar-Xirinachs, head of director of labour market analysis at the Geneva-based ILO.
“These are people who, because of the seriousness of the crisis, because of long-term unemployment, have given up hope, have decided to not search for work any more, and therefore they are not counted as unemployed but more as discouraged,” he said.
The ILO’s revised figures mean global unemployment has risen by 28 million since 2007, before the start of the financial crisis, said ILO Director-General Guy Ryder.
With a further 39 million “discouraged” people withdrawing from the labour market over the same period, the crisis could be seen to have created a global jobs gap of 67 million, he said.
However, despite the greater number people believed to have given up on looking for work, the ILO’s latest report did not revise figures given a year ago for the total number of people in the labour market.
The so-called “labour force participation rate”, which measures the proportion of the working-age population who are working or looking for work, is thought to have remained steady at 64.1 percent for the past three years, showing no sign of the labour force shrinking.
The figure had been above 65 percent until 2007 but fell in each of the subsequent three years.
(Editing by Hugh Lawson)
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Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial Investment Real Estate Broker in Arizona now for 15 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial Landspecialist in Phoenix and a Commercial Landspecialist in Arizona.
1.
WHETHER YOU LEASE OR OWN
NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.
In my opinion we are at or near the bottom of the cycle in Commercial Real Estate in Phoenix and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix. The prices on deals I may get you will not be around forever.
2.
IF YOU OR ANYBODY YOU KNOW IS IN TROUBLE WITH YOUR BUSINESS, AS MANY AMERICANS ARE IN THE MOMENT, AND ARE ABOUT TO LOSE YOUR COMMERCIAL PROPERTY, PLEASE CONTACT ME. IF YOUR BANK IS BEHAVING BADLY I MAY BE ABLE TO HELP YOU GET OUT OF SOME OR MAYBE A LOT OF FUTURE HEADACHES.
3.
WAITING TO SELL YOUR LAND ? TIMES CHANGE / IT’S TIME
We barely could give land away the last few years, but times are changing. Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.
Since I was a Land Specialist in Arizona and a Land Speciaost in Phoenix many of my clients, Sellers and Buyers remember me and now they are calling me again, so this is the time to get back into land and none of my clients, including future clients, will miss out on getting their best deal.
Also, if you are up-side down on your land, like many Americans, and the lender is giving you a hard time, now is the time to put your land on the market. Lenders are making deals now with short sales. I have been working with banks for many years – I learned how to work with them.
If you have any questions about the 1 to 3 above, about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me 520-975-5207 (cell) 602-778-5110 (office direct).
Thank You
Walter
Walter Unger CCIM
Associate Broker
Kasten Long Commercial
2821 E. Camelback Road, Suite 600
Phoenix,AZ85016
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