Long-term unemployment: the next threat to the world economy

A worldwide increase in long-term unemployment is set to become a major barrier to global economic recovery in near future just as during the Great Depression of the 1930s. Government measures for boosting economic growth were largely ineffective in rapidly reducing long-term unemployment during the 1930s and a similar situation may rise again. Aggressive monetary policies need to be adopted in the next two years to counter this risk.

Source: Guardian

Leave a Reply

Your email address will not be published. Required fields are marked *