Unemployment is becoming a more and more prominent subject, one talked about by every country but also by the International Monetary Fun and the World Bank. Why? Because the unemployment rate is the ultimate measure of economic success. Especially since a big share of the world's political and economic turmoil is fueled in one way or another by unemployment causing events such as the London riots or the Arab Spring.
Chief economist of the European Bank, Erik Berglof says that "The No. 1 focus is going to be on small and medium-size enterprises and employment, creating new jobs and meaningful jobs".
Unemployment is extremely important as it can have a corrosif impact on societies: increase of crime, depression, divorce, etc.
It also reduces tax revenue and therefore does not help reduce government's debt.
These are the main reasons why the lacking job creation is one of the dominant topics today in economics.
Source: http://www.nytimes.com/2011/09/22/business/global/to-limit-turmoil-focus-turns-to-fighting-joblessness.html
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