Publication extract: USB Career Day 27 July 2012

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The world faces a challenge of creating 600 million jobs over the next decade, global backlog of global unemployment of 200 million – an increase of 27 million since the start of the crisis. In 2011, 74.8 million youth aged 15–24 were unemployed, an increase of more than 4 million since 2007. In the world as a whole, there were nearly 29 million fewer people in the labour force in 2011 than expected based on pre-crisis trends, with 6.4 million fewer youth and 22.3 million fewer adults. Outside of Asia, developing regions have lagged behind developed economies in labour productivity growth, raising the risk of a further divergence in living standards and limiting prospects for poverty reduction. Declining global demand, trade and FDI further exacerbate declining employment trends