MnetTV          Digital Library

Search Manufacturing.net Search Manufacturing.net
Today in Manufacturing.Net

Resources
Association Links
Bookstore
Digital Library
Events Calendar
Job Search
What’s New
White Papers

Browse White Papers


News
Featured Articles
Financial News
Global Manufacturing
Government News
Mergers & Acquisitions
News Archive
People in the News

Job Search


Market Sectors
Aerospace
Automotive/Transportation
Chemical/Petroleum
Food/Beverage
Medical
Metals
Pharmaceuticals/Biotech
Plastics/Rubber
Other Manufacturing

Industry Focus
Design & Development
Electrical & Electronics
Energy
Environmental
Facilities & Operations
Labor Relations
Manufacturing Technology
Materials
Quality
Safety
Supply Chain

Amazon

About Us
Editorial Contacts
Advertise with Us

Our Partner Sites
Chem.Info
ECN
Food Manufacturing
IMPO (Industrial Maintenance & Plant Operation)
Medical Design Technology
Pharmaceutical Processing
Product Design & Development
R & D Magazine
Wireless Design & Development
Wireless Week



 


Mnet house ad 120x240



Global Unemployment Continues To Rise
By Greg Keller, AP Business Writer
Manufacturing.Net - November 06, 2009

Printer Friendly     E-mail to a Colleague


PARIS (AP) -- Despite signs of an economic revival gathering pace around the globe, the millions of people laid off during the worst recession in 70 years are unlikely to see relief any time soon as joblessness is still climbing in many of the world's largest economies.

That fact was underscored Friday as the U.S. Labor Department said unemployment rose to 10.2 percent, the highest level since 1983 in October, despite the economy's 3.5 percent growth in the three months to Sept. 30.

Unemployment data typically lags other indicators of economic health as companies hold off adding staff in the early stages of a rebound. The upturns recorded recently in the United States, France, Germany and elsewhere have been largely driven by temporary factors such as industry restocking following spending freezes, as well as the billions spent on stimulus programs.

This week the European Union forecast unemployment in the eurozone will rise to 10.7 percent in 2010 from 9.5 percent this year.

Unemployment rates in the 30 wealthy countries that belong to the Organization for Economic Cooperation and Development range from a low of 3.5 percent in the Netherlands to 18.3 percent in Spain, according to September figures.

And eurozone unemployment rose to a 10-year high of 9.7 percent in September.

In the developing world, the downturn has also taken its toll. Unemployment in Brazil appears now to be stabilizing, but in Mexico, after hitting a 13-year high in August, unemployment has continued to rise, reaching 6.4 percent in September.

In the United States, the economy shed a net 190,000 jobs in the month. The loss of jobs exceeded economists' estimates and made it the 22nd straight month that the U.S. economy has shed jobs -- the longest on record dating back 70 years.

Here is a look at unemployment rates around the world:

GERMANY -- German unemployment fell for a second month in October, but the effects of the financial crisis lingered and it is still too early to expect a turnaround in the economy, the country's labor ministry said. The unadjusted jobless rate in Europe's biggest economy was 7.7 percent, down from 8 percent the previous month and below the 8.3 percent in August, the Federal Labor Agency said. The dip in unemployment comes nearly two weeks after the German government raised its growth forecast and predicted that Europe's biggest economy will expand by 1.2 percent in 2010, up from an earlier prediction of 0.5 percent.

FRANCE -- The increase in French jobless lines has been somewhat tempered by government incentives such as exempting payroll taxes for some workers. The unemployment rate rose to 9.8 percent in September from 7.8 percent in 2008, according to the OECD. It is expected to hit 10 percent by the end of the year.

BRITAIN -- Britain's Office for National Statistics says unemployment in the United Kingdom was 7.9 percent in the three months to August. The rate held although the number of people out of work was 88,000 higher than in the previous three months, the report said. The number of jobless looks on course to pass the three million mark next year as the impact of the recession translates to rising dole queues.

JAPAN -- Japan's unemployment rate fell for the second straight month in September as companies gained more confidence in the stimulus-fueled global recovery but prices continued to tumble, underscoring weak demand at home. The jobless rate stood at a seasonally adjusted 5.3 percent in September, down from 5.5 percent the previous month and a record high of 5.7 percent in July, the government said Friday. The figures suggest job losses in the world's second-biggest economy are easing as companies gain more confidence that global demand for Japan's cars, electronics and other mainstay exports is picking up. Japan's factory output posted its seventh consecutive rise in September.

CHINA -- The official urban unemployment rate was 4.3 percent for the three months ended Sept. 30, unchanged from the previous three month period. But the actual level could be more than double that because the government system ignores millions of migrant workers and employees who are furloughed by state companies but not recorded as laid off. As of Sept. 30 there were 9.15 million registered unemployed people in an urban workforce of 210 million. As many as 30 million migrants are believed to have lost jobs in export-oriented factories in late 2008, government officials said.

BRAZIL -- The government says the unemployment rate was 8.1 percent in August -- virtually unchanged from the previous month. Brazil emerged from recession in the second quarter. Analysts predict the economy will expand slightly in 2009.


Printer Friendly     E-mail to a Colleague



Talkback!
Manufacturing.net is pleased to provide you an opportunity to share your opinions on any of the news stories or articles on our site. We reserve the right to edit/remove comments.
Viewing 2 User Comments
Add a Comment
Despite WHAT signs of an economic revival?  11/6/2009 12:19:00 PM
This magazine is all propoganda.
SIGNS???  11/6/2009 12:51:00 PM
This is just part of the OBAMA "Smoke and Mirrors Act" of 2009. 3.5% makes ME believe all is well and to go blow my savings on Christmas. Or at least $15,000 on "Date Night".


Add a Comment...

E-Mail:
The content of this field is kept private and will not be shown publicly.

Subject:
Comment:

 

     



   





Flatbed trucking, flatbed shipping, flatbed carriers



Medical

Medtronic Gets Warning On Heart Implant Unit

Stryker Acquires OtisMed, Set To Buy Other Assets

Life Technologies To Buy BioTrove


Metals

Steel Of West Virginia Cutting Jobs

Alcoa Puts 2,000 Italian Jobs At Risk

Severstal Mill In Ohio To Resume Operations

Other Manufacturing

Procter & Gamble Still Looking For Acquisitions

New Era Cap Co. Consolidating Plants

Champion: No Layoffs At Nebraska Plant
News Video