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.”
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews