As many as 51 million people may lose their jobs worldwide this year because of the global economic slowdown, the International Labor Organization(ILO) said Wednesday. The ILO expects “a dramatic increase” in the number of people joining the ranks of the unemployed, working poor and those in vulnerable employment, according to its annual Global Employment Trends (GET) report for 2009. Based on new developments in the labor market and depending on the timeliness and effectiveness of recovery efforts, the report says global unemployment in 2009 could increase over 2007 by a range of 18 million to 30 million workers, and more than 50 million if the situation continues to deteriorate. Globally, an “optimistic” scenario for 2009 would result in an increase of the number of unemployed by 18 million people in comparison with 2007, and this number may well rise to 30 million or more if it takes more time for financial markets to stabilize than is envisaged by decision makers. A rise of 51 million is a possibility should growth slow more rapidly in 2009 and recovery be delayed into 2010, the ILO said. The ILO report also said that in this last scenario some 200 million workers, mostly in developing economies, could be pushed into extreme poverty. “The ILO message is realistic, not alarmist,” said ILO Director-General, Juan Somavia. “We are now facing a global jobs crisis. Many governments are aware and acting, but more decisive and coordinated international action is needed to avert a global social recession. “Progress in poverty reduction is unravelling and middle classes worldwide are weakening. The political and security implications are daunting”, ILO latest predictions are based on an economic growth forecast of 2.2 percent, published by the ILO in November and expected to be adjusted downwards. Somavia called on the upcoming meeting of the G-20 on 2 April in London, alongside financial issues, to urgently agree on priority measures to promote productive investments, decent work and social protection objectives, and policy coordination. __
