Saturday, March 9, 2013

Half-a-Billion Unemployed?

I ran across an eye-opening article in the USA Today, "Global Joblessness Rising" (Jan. 22, 2013). It reported that, according to the International Labour Organization, "The net number of unemployed people rose 4% in 2012 to 197 million and is expected to rise by 5.1 million in 2013 and an additional 3 million in 2014..."

If these numbers are calculated in a similar manner as the main, official unemployment rate we get from the U.S. Bureau of Labor Statistics every month, we know that the true number of unemployed people could be over twice as many as the reported figures. So, in a few years, we could have close to half-a-billion people on planet Earth who can't find work.

If idle hands are the devil's playground, the devil certainly has lot of hands to work with.

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