Trust in business and government worldwide is showing a remarkable resilience, a new survey has found, but in the United States there has been a steady decline.
According to the annual Edelman Trust Barometer, trust in businesses is up two points globally — led by surges in Brazil and Germany, yet in the U.S., trust of government, corporations and media was down by eight points to just 46 percent.
Edelman Chief Executive Richard Edelman says the report, released Tuesday, shows that recent financial crises have led to more skepticism but adds that such trust is conditional on what a company does and how it communicates.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
DAVOS, Switzerland (AP) — As world leaders and wealthy business executives prepared to mingle and chat at the World Economic Forum, U.N. figures revealed Tuesday that 205 million people were unemployed last year in the wake of the financial crisis and that little improvement was expected in 2011.
The International Labor Organization said the number of jobless worldwide held steady last year and is forecast to dip less than 1 percent this year to 203.3 million.
The ILO report was released on the eve of the five-day meeting as last-minute preparations were made for the arrival of some 2,500 business and political leaders who will discuss the state of the world.
ILO chief Juan Somavia was quoted in the report as saying that "the tremendous human costs of the recession are still with us."
The Geneva-based agency said that there are 27.6 million more jobless today than when the financial crisis started in 2007, though with population growth more people are also in work now.
The results are likely to figure in the discussions and debate through Sunday as a post-mortem is taken on the financial crisis and what lies ahead.
"The post-crisis era should not be the pre-crisis era," Forum founder and chairman Klaus Schwab told The Associated Press. "We should have learned and we should avoid the exuberance. One of the key issues will be exactly the question 'Are we out of the crisis or is it much more an artificial consequence of all the measures which have been undertaken."
The forum begins Wednesday and ends Sunday.
- Klaus Schwab
- World Economic Forum
- Edelman Chief Executive Richard Edelman