The Impact of the Global Crisis on Employment
Unemployment, working poor and vulnerability
The global economic crisis is expected to lead to a dramatic increase in the number of people joining the ranks of the unemployed, working poor and those in vulnerable employment, the International Labour Office (ILO) says in its annual Global Employment Trends report (see reference). Based on new developments in the labour market and depending on the timeliness and effectiveness of recovery efforts, the report says global unemployment in 2009 could increase over 2007 by a range of 18 million to 30 million workers, and more than 50 million if the situation continues to deteriorate. A WDEV summary
The ILO report also said that in this last scenario some 200 million workers, mostly in developing economies, could be pushed into extreme poverty. “The ILO message is realistic, not alarmist. We are now facing a global jobs crisis. Many governments are aware and acting, but more decisive and coordinated international action is needed to avert a global social recession. Progress in poverty reduction is unravelling and middle classes worldwide are weakening. The political and security implications are daunting”, said ILO Director-General, Juan Somavia ...
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More on the subject:
>>> Coordinated and Massive Global Stimulus Required
>>> Inequalities in the Age of Globalisation
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