World Bank: growth of rich countries lags need for jobs (Reuters)

WASHINGTON (Reuters) - economic growth in the richer countries is still too slow to create enough jobs for tens of millions of people who have lost their during the worst global recession since the second world war, the World Bank said Wednesday.

In a report detailing its prospects for 2011, the multilateral lender provides that the world economy would expand 3.3% this year, softer than the observed expansion of 3.9% in 2010.

Growth in developing countries is far exceeding the growth in mature economies. The World Bank expects growth in emerging economies by 6 per cent in 2011, lower than the rate of 7 percent from last year. Rich countries, however, will spend only 2.4%, down from 2.8% for 2010.

"Recovery in many high-income countries was not strong enough to have key entering the high rate of unemployment in the ability of reserve, said the report."

In the United States, the largest economy in the world, is a good example. Economy is out of its worst recession in generations in summer 2009. But 2.6% on the latest estimates, growth has been too soft to put a significant dent in stubbornly high unemployment - now at 9.4%.

The World Bank provides the U.S. economy will increase by 2.8% in 2011, in large part to a median forecast of 2.7 per cent in the private sector economists Reuters survey.

In Europe, recovery has been hampered by persistent concerns over countries highly indebted as the Greece and Portugal, which have kept the high borrowing costs and leads to serious disruption of the market.

Eurozone growth should slow down 1.4 percent this year by 1.7% in 2010, said the World Bank. The report cited the collapse of debt in the continent as a significant threat to the global recovery.

Given a context of uncertainty, monetary authorities on both sides of the Atlantic have adopted a policy of low interest rates, which World Bank criticized rising exchange rates in the developing world.

"The influx of capital in some middle-income countries have placed pressure undue and potentially damaging upward on the currency," said the World Bank.

The US Federal Reserve, in particular, was the subject intense critical of officials in emerging economies to its policy of purchasing Government bonds to cut rates in the long term.

The American Central Bank argues he must concentrate on the domestic economy, saying that other countries have their own ways of dealing with an increase of capital.

A number of countries have adopted measures such as tariffs and the capital controls to stem the influx, which some fear could quickly reverse if travel conditions.

(Pedro Nicolaci reports da Costa.) (Editing by Leslie Adler)