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Singing for loose change in Washington. The U.S. jobless rate will remain stuck at around 9 per cent through the end of 2012, the Congressional Budget Office said Friday. (Jewel Samad/AFP/Getty Images/Jewel Samad/AFP/Getty Images)
Singing for loose change in Washington. The U.S. jobless rate will remain stuck at around 9 per cent through the end of 2012, the Congressional Budget Office said Friday. (Jewel Samad/AFP/Getty Images/Jewel Samad/AFP/Getty Images)

Labour

Girding for 'a lost decade' of joblessness Add to ...

The relentless rise of unemployment in many of the world’s developed nations threatens a “lost decade” that will sap consumer confidence, squeeze government revenues and alter migration patterns.

Jobless rates are at or near record levels in Britain, Spain, Greece and the euro zone as a whole. In the United States, unemployment has stubbornly refused to budge from about 9 per cent for more than two years. And even Canada, where the labour market has been relatively robust, saw its worst job losses last month since the recession.

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