As many as 51 million jobs worldwide could be lost this year because of the global economic crisis, says the International Labour Organization (ILO). The UN agency says that would push up the world’s unemployment rate to 7.1% by the end of 2009, compared with 6.0% in 2008 and 5.7% in 2007. … "If the recession deepens in 2009, as many forecasters expect, the global jobs crisis will worsen sharply," the ILO said. The International Monetary Fund is expected later on Wednesday to cut its forecast for world economic growth and predict a deeper than expected recession in the developed nations. … "We are now facing a global jobs crisis," said ILO director-general, Juan Somavia in the ILO’s Global Employment Trends 2009 report. "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."
Global job losses ‘could hit 51m’
