Global Job Losses Could Hit 51 Million

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.

The ILO’s most optimistic forecast is for 18 million more unemployed, giving a global jobless rate of 6.1%.

It says developing countries will suffer most from additional job losses.

“If the recession deepens in 2009, as many forecasters expect, the global jobs crisis will worsen sharply,” the ILO said.

Read the rest:
http://news.bbc.co.uk/2/hi/business/7855661.stm

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