1 Nov 2011

ILO posts grim warning about global job outlook

11:45 am on 1 November 2011

The International Labour Organisation (ILO) is warning that the global economy is on the verge of a new and deeper jobs recession that may ignite social unrest.

It says it will take at least five years for employment in advanced economies to return to pre-crisis levels, and over the next two years the world economy is likely to create just half of the 80 million jobs needed.

Most new jobs will be created in the developing world, it says, leaving industrialised states short of 24.7 million jobs during 2012 and 2013.

The ILO also notes that in 45 of the 118 countries it has examined, the risk of social unrest is rising.

Senior official Raymond Torres says governments must act to avoid social disorder, because more and more people are becoming dissatisfied and losing confidence in governments.