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Most of the rich world sees an increase in long term unemployment
Feb 26, 2013

The global financial crisis had many repercussions on the developed world. One such was the rise in unemployment. It was hoped that monetary measures adopted by government would propel growth and bring down this number. But unsurprisingly, this has not happened. Most of the countries are still down in the dumps. And the unemployment rates remain bleak as well. Because of the lack of recovery most of the workers unemployed during the 2008-09 global crisis have been losing touch with the world of work. That is why as more time passes it has become difficult for them to find work. And this shows in the statistics as well. As today's chart of the day shows, barring Germany, long term unemployment rates have increased across most countries. And the situation is not likely to improve anytime soon especially if governments continue to interfere in the economy. Indeed, we believe that money printing is not the answer to job creation or GDP growth. Instead governments should focus on industries and infrastructure.

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Data Source: The Economist

This Chart Of The Day was published in The 5 Minute WrapUp - Is democracy failing?

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