Nick Shields: October 24th, 2008, 11:04 am.
World unemployment could increase by an estimated 20 million men and women due to the global financial crisis. A revised global growth estimate by the International Monetary Fund and the UN report losses in most countries where data was available. Mr. Juan Samovia the ILO director-general said that "the number of unemployed could rise from 190 million to 210 million in late 2009." He also stated that "the number of poor living on less than a dollar a day could rise by about some 40 million and those at two dollars a day could rise by more than 100 million. The crisis is predicted to hit hardest in sectors such as construction, automotive, tourism, finance, services and real estate. Mr. Samovia also pointed out that the current projections could be underestimates if the effects of the current economic contraction and looming recession are not quickly confronted. "This is not simply a crisis on Wall Street, this is a crisis on all streets. We need an economic rescue plan for working families and the real economy, with rules and policies that deliver decent jobs" added Mr. Somovia.
This financial crisis is having a widespread effect. It is not just in the United States but around the whole world. This should be the number one on the list of whoever is elected president in about 2 weeks. I think the economy will eventually fix itself, but we cannot wait for that to happen. Too many people are losing their jobs, or are facing cutbacks in wages and benefits. I think that the ILO is the perfect organization to have a positive effect on the unemployment problem. They could stop companies from laying people off by helping them find other ways of cutting back. People should be able to have a decent job no matter what the global situation is like.
http://www.ilo.org/global/About_the_ILO/Media_and_public_information/Press_releases/lang--en/WCMS_099529/index.htm
1 comment:
The unemployent rates recently have been horrible.
Post a Comment