Submitted by Martin Armstrong via ArmstrongEconomics blog,

A United Nation study has reported that about 206 million people are now unemployed.

This is the cost of socialism taxing the rich so there is no job creation with nearly half of that number amounting to youth under 25 years old. The economy on a global scale is terribly weak. This UN annual report released Monday by the International Labour Organisation (ILO) is shocking and politicians cannot see what they are doing to the future.

The future does not look bright at all. The UN is projecting that by 2018 the number of unemployed youth will climb to about 215 million. This type of forecast is simply taking the trend in motion and projecting the same pace forward. There will be an exponential rise after 2015 and this will be a Phase Transition resulting in greater violence and protests all because governments refuse to even consider what their policies have been doing.

Executive Summary of ILO report:

wcms_234107