50M fewer jobs worldwide since '08 due to structural Unemployment
The bleak worldwide employment picture is worsening and is, in some ways, irreversible, according to a United Nations agency report of global unemployment.
"This is not a normal employment slowdown," said the World of Work Report 2012, an annual survey of the global job market. "Four years into the global crisis, labour market imbalances are becoming more structural, and therefore more difficult to eradicate.....This means that they would be unable to obtain new employment even if there were a strong recovery."......
.....Pearl Kamer, chief economist for theLong IslandAssociation...said..."There's a structural mismatch of the skill sets of the unemployed and the industries with emerging jobs,...This crisis has been transformational," ...it is different from previous job deficits because, in past recessions, people became unemployed only temporarily because the jobs returned. "Many of the jobs lost are not coming back. The ones that are being created are in technology-intensive industries."