Warning of a possible six to eight year employment and social protection crisis due to the economic downturn, International Labour Organization (ILO) Director- General Juan Somavia today called on delegates to the 98th International Labour Conference to adopt a “Global Jobs Pact.”
Mr. Somavia cited a range of dire economic challenges facing the world of work, ranging from rising unemployment and increasing poverty to stress on businesses, adding, “all of this put together means that the world may be looking at a jobs and social protection crisis of six to eight years duration.”
He also said the global economy will need to create around 300 million new jobs up to 2015 just to keep up with the increase in the labour force, adding “but things are going in the opposite direction” and “unemployment is projected to continue rising at least until the end of 2010, maybe 2011.”
See full Press release.
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