The ILO warns that Subsaharan Africa and South Asia will harshly affected by the worsening job market. Pictured is an apparently abandoned clothing store in Nashik, India. The International Labor Organization (ILO), a branch of the United Nations concerned with labor and workers' rights issues, issued a report Wednesday explaining how the global economic crisis could create a global employment crisis by the end of the year.  In a worst-case scenario, the ILO says 51 million jobs could be lost in 2009, meaning that 7.1\% of the world's working population would be out of a job. In a more realistic scenario, the report foresees a loss of 30 million jobs, with a global unemployment rate of 6.5\%. The unemployment rate has increased in recent years, from 5.7\% in 2007 to an estimated 6\% in 2008.
The International Labor Organization (ILO), a branch of the United Nations concerned with labor and workers' rights issues, issued a report Wednesday explaining how the global economic crisis could create a global employment crisis by the end of the year. The ILO warns that Subsaharan Africa and South Asia will harshly affected by the worsening job market. Pictured is an apparently abandoned clothing store in Nashik, India. In a worst-case scenario, the ILO says 51 million jobs could be lost in 2009, meaning that 7.1\% of the world's working population would be out of a job. In a more realistic scenario, the report foresees a loss of 30 million jobs, with a global unemployment rate of 6.5\%. The unemployment rate has increased in recent years, from 5.7\% in 2007 to an estimated 6\% in 2008.
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ILO warns that Subsaharan Africa and South Asia will harshly affected by the worsening job market. Pictured is an apparently abandoned clothing store in Nashik, India. The
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The ILO warns that Subsaharan Africa and South Asia will harshly affected by the worsening job market. Pictured is an apparently abandoned clothing store in Nashik, India.