UN: Global unemployment to trigger further social unrest
Added under Labor
The International Labor Organization (ILO) has warned of growing social unrest because it fears global employment will not now recover until 2015.
This is two years later than its earlier estimate that the labor market would rebound to pre-crisis levels by 2013. About 22 million new jobs are needed–14 million in rich countries and 8 million in developing nations.
The United Nations work agency today warned of a long "labor market recession" and noted that social unrest related to the crisis had already been reported in at least 25 countries, including some recovering emerging economies.
Crisis-hit Spain faced its first general strike in eight years this week as unions protested against the government's austerity measures and labor reforms. The strike on Wednesday coincided with protests in Greece, Portugal, Ireland, Slovenia and Lithuania, as well as demonstrations in Brussels by tens of thousands of workers from across Europe as part of a European day of action against public spending cuts.
"Fairness must be the compass guiding us out of the crisis," said ILO director general Juan Somavia. "People can understand and accept difficult choices, if they perceive that all share in the burden of pain. Governments should not have to choose between the demands of financial markets and the needs of their citizens. Financial and social stability must come together. Otherwise, not only the global economy but also social cohesion will be at risk."
Sources: Guardian (UK)
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