Why don’t we start with the good news? As many news organisations have reported, there has been an increase in activity around the world, as far as businesses are concerned. Some of the most important benchmark countries, such as the United States and China, seem to be on an upward path again. This is especially important in regard to the United States, which is still the leading economy in the world. In many ways, as these two giants move, so does the rest of the world. As a result, the trickle-down effect has been noticeable, and many countries, including the UK, are beginning to see some light at the end of the tunnel. However, on a global basis, the bad news is that worldwide unemployment is still on the rise.
Misery on a Worldwide Scale
According to the International Labour Association, otherwise known as the ILO, the number of jobless people around the world rose by 5 million in 2013. Now, the unfortunate total is over 202 million people around the world who are desperate for a job. Doing the maths quickly, that’s an increase of 2.5% in the last year. Unfortunately, the ILO’s projections aren’t very rosy. They expect that within the next 4 years, there will be an additional 13 million people without a job. It just doesn’t seem to make sense: If business activity is picking up and companies are supposedly growing, why is unemployment actually rising? It could very well have to do with the fact that the world’s population is also increasing and, as a result, there are more people looking for jobs than ever before – and just not enough positions for them to fill.
Some of the Trends Are Undeniable
The ILO was quick to point out that there are other factors at play. Chief among those is the fact that, in many countries, credit is still difficult to get, which does not allow businesses to expand as rapidly as they might like. There are also increased taxes, both on consumption and on personal incomes, which reduce the ability of businesses and consumers to go out and spend as they would like. Fortunately, here in the UK, we still enjoy amazingly low interest rates, thanks to the Bank of England’s current policies. As a result, unemployment is actually dropping, not rising like it is in many parts the world. As a result, local companies have the opportunity to focus on growing their businesses, perhaps venturing out into the world by exporting their goods or services. But they always have to remain focused on their main goals. That is why payroll outsourcing has become such a popular trend, as it allows even a small business to focus on growing rather than just taking care of the details. PayrollSimply is a company that can provide this service easily, allowing many business owners to focus on what is most important.
We’re Doing Better Than Most
If you compare the current unemployment rate in the UK, which stands at 7.4%, it is quite favourable even when measured against some of our main competitors. The United States and Canada have an unemployment rate of 8.6%, whereas the countries in North Africa stand at approximately 12%. When you look at it from this perspective, we are certainly in better shape than most countries.
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