Hopeless Unemployment
The North Atlantic economies have not yet reached the point that long-term unemployment becomes an impediment to recovery, as it was during the Great Depression. But, barring a sudden and unexpected interruption of current trends, that point will be reached in the next two years.
https://prosyn.org/RXzIe0L
BERKELEY – However bad you think the global economy is today in terms of the business cycle, that is only one lens through which to view the world. In terms of global life expectancy, total world wealth, the overall level of technology, growth prospects in emerging economies, and global income distribution, things look rather good, while on still other dimensions – say, global warming or domestic income inequality and its effects on countries’ social solidarity – they look bad.