Global recession looms as unemployment rises

The struggling masses face starvation, as the meagre income comes to a halt, the writer says.
The struggling masses face starvation, as the meagre income comes to a halt, the writer says.
Image: 123RF/dolgachov

We are facing a critical unemployment crisis as one out of three people are out of jobs.

Global economic prospect for 2019 will remain downbeat as uncertainty and vulnerabilities of economies towards financial stress and real economy constraints continue to persist.

The struggling masses face starvation, as the meagre income comes to a halt.

As a consequence of unemployment, many will resort to crime to survive, as the poor struggle to eke out a living.

Global growth in advanced economies is too weak to bring down unemployment and what little momentum exists is primarily from central banks. The longer the delay of a restructuring process, the higher the probability of a gigantic system failure and global recession in 2020.

Farouk Araie, Actonville, Benoni

Would you like to comment on this article or view other readers' comments? Register (it’s quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

X