In a grim analysis issued on the eve of the G20 leaders summit, the International Labour Organization (ILO) says the global economy is on the verge of a new and deeper jobs recession that will further delay the global economic recovery and may ignite more social unrest in scores of countries. http://www.ilo.org/global/publications/ilo-bookstore/order-online/books/WCMS_166021/lang--en/index.htm
“We have reached the moment of truth. We have a brief window of opportunity to avoid a major double-dip in employment,” said Raymond Torres, Director of the ILO International Institute for Labour Studies that issued the report.
The new “World of Work Report 2011: Making markets work for jobs” says a stalled global economic recovery has begun to dramatically affect labour markets. On current trends, it will take at least five years to return employment in advanced economies to pre-crisis levels, one year later than projected in last year’s report.
