homeless Posted October 31, 2011 Share Posted October 31, 2011 from the bbc http://www.bbc.co.uk/news/business-15519699 The global economy is on the verge of a new and deeper jobs recession that may ignite social unrest, the International Labour Organization (ILO) has warned. It will take at least five years for employment in advanced economies to return to pre-crisis levels, it said. The ILO also noted that in 45 of the 118 countries it examined, the risk of social unrest was rising. Separately, the OECD research body said G20 leaders meeting in Cannes this week need to take "bold decisions". The Organisation for Economic Co-operation and Development said the rescue plan announced by EU leaders on 26 October had been an important first step, but the measures must be implemented "promptly and forcefully". 'Moment of truth' In its World of Work Report 2011, the ILO said a stalled global economic recovery had begun to "dramatically affect" labour markets. It said approximately 80 million net new jobs would be needed over the next two years to get back to pre-crisis employment levels. But it said the recent slowdown in growth suggested that only half the jobs needed would be created. "We have reached the moment of truth. We have a brief window of opportunity to avoid a major double-dip in employment," said Raymond Torres from the ILO. The group also measured levels of discontent over the lack of jobs and anger over perceptions that the burden of the crisis was not being fairly shared. It said scores of countries faced the possibility of social unrest, particularly those in the EU and the Arab region. Loss of confidence Meanwhile, the OECD's message to G20 leaders came as it predicted a sharp slowdown in growth in the eurozone. Quote Link to comment Share on other sites More sharing options...
scrappycocco Posted October 31, 2011 Share Posted October 31, 2011 Pretty obvious. They cut the workforce after a QE, make more profits and pay the people at the top more money - poor get poorer rich get richer as it has always been. The public sector thinks it should be the same so it does the same thing. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 31, 2011 Share Posted October 31, 2011 What happen to those lovely green shoots ? Quote Link to comment Share on other sites More sharing options...
Gone baby gone Posted October 31, 2011 Share Posted October 31, 2011 What happen to those lovely green shoots ? They were harvested for the salad bowl at the Goldman Sachs xmas party. Quote Link to comment Share on other sites More sharing options...
homeless Posted October 31, 2011 Author Share Posted October 31, 2011 so erm what are we going to do about it? Quote Link to comment Share on other sites More sharing options...
spiney Posted October 31, 2011 Share Posted October 31, 2011 so erm what are we going to do about it? We? I'm buying beans and shotgun shells. Spiney. Quote Link to comment Share on other sites More sharing options...
homeless Posted October 31, 2011 Author Share Posted October 31, 2011 We? I'm buying beans and shotgun shells. Spiney. i hope im not hiding out in your bunker Quote Link to comment Share on other sites More sharing options...
Self Employed Youth Posted October 31, 2011 Share Posted October 31, 2011 i hope im not hiding out in your bunker Kidney beans are cheaper, but I wouldn't worry about value for (paper) money when TSHTF. Quote Link to comment Share on other sites More sharing options...
Olebrum Posted October 31, 2011 Share Posted October 31, 2011 Jesus these headlines. It's like the media have been instructed to spoon feed the plebs pure bullsh*t. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted October 31, 2011 Share Posted October 31, 2011 Pretty obvious. They cut the workforce after a QE, make more profits and pay the people at the top more money - poor get poorer rich get richer as it has always been. The public sector thinks it should be the same so it does the same thing. There was a chap on the radio this morning who was saying that, allegedly, this is what Barclays have done. Fired loads of people to save cash, modernised their IT to save cash. Think he said about 4,000 more of their staff will be going. The public sector here in Wales appears to be completely immune to any job cuts. I heard over the weekend about one Welsh uni hiring various lecturers and admin staff. Quote Link to comment Share on other sites More sharing options...
Snugglybear Posted October 31, 2011 Share Posted October 31, 2011 There was a chap on the radio this morning who was saying that, allegedly, this is what Barclays have done. Fired loads of people to save cash, modernised their IT to save cash. Think he said about 4,000 more of their staff will be going. The public sector here in Wales appears to be completely immune to any job cuts. I heard over the weekend about one Welsh uni hiring various lecturers and admin staff. PricewaterhouseCooper says 10,000 public sector jobs have gone in Wales in the last year (report dated 20th October 2011) http://www.ukmediacentre.pwc.com/News-Releases/The-Spending-Review-one-year-on-significant-private-sector-job-gains-since-2009-but-public-sector-job-losses-have-been-larger-and-faster-than-expected-particularly-in-English-local-authorities-says-PwC-analysis-1125.aspx Quote Link to comment Share on other sites More sharing options...
libspero Posted October 31, 2011 Share Posted October 31, 2011 My little anecdotal.. High tech tool makers in the US are beginning to feel the pressure. We are linked, we have already seen cost saving initiatives and are starting to see factory shut downs planned. This is usually the step before redundancies start kicking in. It has been much slower coming than last time around.. but presently there is in indication that things are going to pick up. Having said that, high tech is very cyclic anyway.. and it may not necessarily be an indication of the wider economy. Though I have a feeling it probably is. Quote Link to comment Share on other sites More sharing options...
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