On 7 May, following Mr. Hollande's election as the President of France, the ILO expressed the hope that he would be able to lead France out of the austerity trap and focus on a strategy of sustainable economic growth and employment. The ILO's World of Work Report 2012, published in May, pointed out that fiscal austerity and labour market reform has had a counterproductive impact on employment, and these measures cannot help the European countries to achieve their targets to reduce the fiscal deficit and decrease debt. The ILO believes that the only way out of the debt crisis is to increase employment and maintain growth. The ILO estimates that the number of unemployed will reach to 202 million in 2012, a 6 million increase over last year. The number will continue to increase by 5 million in 2013. Europe will be the hardest-hit area.