The year 2011 saw a tapering off of the recovery, followed by a dip in both economic growth and employment
growth in 2012. Unemployment increased by a further 4 million over the course of 2012.
The report examines the crisis in labour markets of both advanced economies and developing economies. The epicentre
of the crisis has been the advanced economies, accounting for half of the total increase in unemployment of 28 million
since the onset of the crisis. But the pronounced double dip in the advanced economies has had significant spillovers into
the labour markets of developing economies as well. A quarter of the increase of 4 million in global unemployment in
2012 has been in the advanced economies, while three quarters has been in other regions, with marked effects in East
Asia, South Asia and Sub-Saharan Africa.