Friday, October 1, 2010

‘Long Labour Market Recession’

Global unemployment to trigger further social unrest, UN agency forecasts

International Labour Organisation (ILO) notes that social unrest has already been reported in at least 25 countries. It fears global employment will not now recover until 2015. The United Nations work agency today warned of a long "labour market recession." ILO director general Juan Somavia says "People can understand and accept difficult choices, if they perceive that all share in the burden of pain. Governments should not have to choose between the demands of financial markets and the needs of their citizens. Financial and social stability must come together. Otherwise, not only the global economy but also social cohesion will be at risk." The ILO report said. "In the 35 countries for which data exists, nearly 40% of jobseekers have been without work for more than one year

Posted by cat and canary @ 02:41 PM (1137 views)
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