Job Losses To Top 50 Million, Unions Warn
Union leaders Tuesday warned G20 heads of state that job losses in the global economy could vastly exceed the 50 million estimate made four months ago.
International Trade Union Confederation (ITUC) General Secretary Guy Ryder said that the International Labor Organization (ILO) had estimated last November that 50 million jobs would be lost by the end of 2009.
Given that growth forecasts had since plummeted, this was now looking “optimistic”, Ryder said.
ITUC is urging the G20 to take strong and concerted action pushing a package of detailed measures spelt out in their London Declaration drawn up by the ITUC and the Organization for Economic Cooperation and Development (OECD).
The package calls for action in five areas, including coordinated international recovery and sustainable growth plan to create jobs, ensure public investment and tackle world poverty.]
Some 20 million jobs could be saved if the G20 economies spend two percent of their gross domestic product on economic recovery plans, the International Monetary Fund [Deputy Director John Lipsky] said Tuesday.
Kilde: www.worldbank.org
