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Economy
In reply to the discussion: STOCKMARKET WATCH -- Wednesday, 11 July 2012 [View all]xchrom
(108,903 posts)28. ILO warns eurozone risks losing 4.5 million more jobs
http://www.bbc.co.uk/news/business-18792720
The eurozone could lose 4.5 million more jobs in the next four years unless the region shifts away from austerity, the International Labour Organization (ILO) has warned.
That rise would take unemployment in the 17-nation bloc to 22 million.
The ILO said a concerted policy shift away from austerity towards job creation was needed.
"It's not only the eurozone that's in trouble, the entire global economy is at risk of contagion," it said.
The eurozone could lose 4.5 million more jobs in the next four years unless the region shifts away from austerity, the International Labour Organization (ILO) has warned.
That rise would take unemployment in the 17-nation bloc to 22 million.
The ILO said a concerted policy shift away from austerity towards job creation was needed.
"It's not only the eurozone that's in trouble, the entire global economy is at risk of contagion," it said.
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