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ILO Sees Jump in World Unemployment
The International Labour Organization is forecasting in its latest annual “Global Employment Trends” report that there will be a 6.1-percent increase in unemployment worldwide this year in connection with instability on financial markets rising oil prices and the recession beginning in the United States. That means 5 million people around the world will lose their jobs. “Unemployment remains unacceptably high and may go to levels not seen before this year,” said ILO director general Juan Somavia.
The new report's prognosis is a sharp contrast to the previously stable employment situation that had emerged with the growth of the world economy by 5.2 percent annually. In 2007, 61.7 percent of the world's inhabitants of working age, or 3 billion people, had employment, with 45 million new job created that year. At the same time, unemployment also increased to 189.9 million.
The economic crisis will be most acutely the developed countries and the European Union. Its world impact will be offset to some extent by continuing economic growth in the rest of the world, especially in Asia. ILO experts predict positive change in Central and Eastern Europe and the CIS as well, although unemployment figures there remain high at 8.5 percent. Employment in agriculture and industry is shrinking in that region, while service industry employment grew by 10 percent last year. Fifty percent of men and 60 percent of women in the region work in the service industry. The ILO expressed particular concern over the low level of employment among young people, which will have unavoidable consequences in the future. Russia's situation is to some extent better than that of other CIS countries because of its attractiveness to investors.
www.kommersant.com
All the Article in Russian as of Jan. 25, 2008
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