Potential Unrest May Loom
Source: Bloomberg News |
November 1, 2011, Tuesday
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Print Edition
Print Edition
THE global job market may not regain its pre-crisis level for at least five years, one year later than previously expected, raising the potential for social unrest, the International Labour Organization said.
"We have reached the moment of truth," Raymond Torres, director of the ILO's Geneva-based International Institute for Labour Studies unit, said in an e-mail yesterday. "We have a brief window of opportunity to avoid a major double-dip in employment."
Over 200 million people globally are jobless, a record high, as almost two thirds of advanced economies and half of developing countries are suffering a slow growth in jobs, the group said.
Areas that showed the greatest potential for disorder include the European Union, the Arab region, and Asia.
"We have reached the moment of truth," Raymond Torres, director of the ILO's Geneva-based International Institute for Labour Studies unit, said in an e-mail yesterday. "We have a brief window of opportunity to avoid a major double-dip in employment."
Over 200 million people globally are jobless, a record high, as almost two thirds of advanced economies and half of developing countries are suffering a slow growth in jobs, the group said.
Areas that showed the greatest potential for disorder include the European Union, the Arab region, and Asia.
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