ILO: World economy on verge of new jobs recession

[dipsydoodle]

Source: BBC News

The global economy is on the verge of a new and deeper jobs recession that may ignite social unrest, the International Labour Organization (ILO) has warned.

It will take at least five years for employment in advanced economies to return to pre-crisis levels, it said.

The ILO also noted that in 45 of the 118 countries it examined, the risk of social unrest was rising.

Separately, the OECD research body said G20 leaders meeting in Cannes this week need to take "bold decisions".

Read more: http://www.bbc.co.uk/news/business-15519699

[xchrom]

1. recommend

[mistertrickster]

2. This is very unsurprising when one thinks about it . . . (important though)

The US is the consumer engine that buys crap from all over the globe.

When we stop buying, the entire system comes to a slow grinding halt.

[DCBob]

3. its also disturbing that the "solution" is to put back to work so they can buy more crap...

that generates more jobs for people who then can buy more and more crap and on and on and on... until we run out of resources to create more crap. Seems futile.