GENEVA — The global labor market is expected to deteriorate further this year, partly due to the slowdown in economic growth — particularly in Europe and other developed countries — with world unemployment forecast to rise to more than 202 million, up 5.1 million from 2012, an International Labor Organization report published Monday said.
“Prospects are unfortunately not good…the trends are still very much in the wrong direction,” said Guy Ryder, ILO director-general, during the launch of the agency’s “Global Employment Trends 2013” report.
After a two-year decline in the number of unemployed, “2012 saw a resurgence of unemployment, up by 4.2 million worldwide,” he said, adding “it is set to rise again by a further 3 million in 2014.”
“An uncertain outlook, and the inadequacy of policy to counter this, has weakened aggregate demand, holding back investment and hiring,..This has prolonged the labor slump in many countries,” Ryder said.
The report said a quarter of the increase in global unemployment in 2012 was in advanced economies, and three quarters in other regions, with marked effects for emerging economies in East Asia, South Asia, and Sub- Saharan Africa.
In the case of the United States, retail trade is among the job sectors that has bounced back and is expected to post “continuous growth over the next two years,” without, however, surpassing its pre- crisis employment level, the report said.
On a brighter note, the ILO report pointed out that from 2001 to 2011, developing countries witnessed an increase of 401 million middle-class workers (those who earn above $4 and below $13 a day), and a further 186 million workers who were above the $13-a -day line.
It projected the number of workers attaining middle-class status and above will expand by an additional 390 million by 2017, pushing the share of middle-class workers in these countries to 51.9 percent, up from 41.6 percent in 2011, and less than 23 percent in 2001.
This emerging middle-class in the developing world, it noted, “could bring about a new driver of global growth, with stronger investment and consumption.”
In yet another fashion show shuffle, @elleryland is moving its show in sync with the Paris couture calendar — though the brand is still keeping one foot on the city’s ready-to-wear schedule. Their runway show in January will coincide with the launch of a new strategy: designing two main collections each year instead of four, which will then be released in four drops. “As we all know, the system needs to change. We need to show sooner to give time back to artisans and designers to do what they do best — create,” said founder Kym Ellery. #wwdnews #wwdfashion (📷: @kukukuba)
@maxmara’s classic 101801 coat was the cornerstone of its pre-fall 2018 collection. The design team expanded the traditional double-breasted, kimono-sleeved style into a trapeze coat, lean belted styles and a peacoat and presented them in monochromatic looks – like the camel one pictured here. #wwdfashion #prefall18 (📷: George Chinsee)
The @cfda has shifted the dates of #NYFW, with Men’s showing on February 5 through February 7, and Women’s will directly follow, running from February 8 through 14. The preliminary schedule will be released on the CFDA’s web site in the next few days, but Mark Beckham, VP of marketing for the CFDA, revealed that @rafsimons will be back to close the men’s-specific part of the week with a show on February 7 #wwdfashion (📷: Kelly Taub)
@ferragamo is introducing a new space dedicated to the development of women’s and men’s leather good samples. The laboratory, which is created eco-friendly materials and designed to reduce the environmental impact of the manufacturing processes, will allow the company to expand its accessories offering through traditional artisanal approaches. #wwdfashion (📷: @aitorrosasphoto)
How does a “regular, degular, schmegular” girl from the Bronx, N.Y., become a Grammy-nominated artist with a certified platinum record in less than a year? Call it the @iamcardib come up. The 25-year-old has become a musical sensation, and the fashion world is taking note. “If I could describe her style I would say drama. She’s really into the dramatics,” says Cardi B’s stylist @kollincarter. See how Carter styles her bold and out there looks with the link in bio. #wwdfashion
“There is no formula. There is no guideline. I can watch Ted Talks all day, but there is no one who can advise me on exactly what it is I should be doing,” said @ronniefieg, CEO of @kith, in an interview with WWD’s @ariahughes at the brand’s new SoHo office in Manhattan. Head to WWD.com to see how Fieg went from hanging out in shoe stockrooms at 13 to building his own business. #wwdfashion (📷: @weston.wells)
@fearofgod and @maxfieldla have teamed up on a pop-up installation. The store, located in the gallery space across from Maxfield’s Melrose Ave location, is the site of the brand’s House of God pop-up in which Fear of God founder @jerrylorenzo has created a church-inspired installation. A dozen vintage church pews sit in front of an LED screen playing 90s gospel singers in an effort to re-create an environment akin to a Southern Baptist Church, Lorenzo explained. Read more about the pop-up on WWD.com #wwdfashion (📷: Jennifer Johnson)
Known for his sleek, sophisticated American glamour, Norman Norell is the subject of an upcoming exhibition at @fitnyc. “Norell: Dean of American Fashion,” which runs from February 9 through April 14, will feature approximately 100 ensembles and accessories. His best work is exemplified by the designer’s glittering “mermaid” gowns frosted with thousands of hand-sewn sequins – like the one pictured. (📷: William Helburn) #wwdfashion
For pre-fall 2018, @balmain didn’t let go of the glitz. A crystal embroidered baseball jacket priced at around $40,000 hangs in the “couture” section of the brand’s first men’s pre-collection. Sporting the words “Balmain Army” across the back, the item took around two months to make. “When it was completed, it was like Christmas, it was like, ‘It’s done, it’s exactly what I wanted,’” said Balmain’s creative director @olivier_rousteing during a tour of the collection in a Paris showroom on Monday. #wwdfashion