A United Nations agency predicted unemployment, working poor and vulnerable employment will increase dramatically due to the current global economic crisis.
A report from the International Labour Office said on Wednesday, 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 crisis deepens.
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 in a statement today.
The ILO report added that this scenario would leave some 200 million workers in extreme poverty, mostly in developing economies.