Jobs crisis is far from over, warns ILO chiefListen /
There's a warning that while the intensity of the financial crisis may appear to be receding, jobs' markets are giving completely different signals.
ILO Director-General Guy Ryder said that the dire jobs situation shows the crisis is far from over.
Speaking during a panel discussion at the World Economic Summit in Davos, Switzerland, Ryder stressed the urgent need to tackle the employment crisis and warned that there can't be any real growth without jobs.
Asked about the jobs and growth conundrum in which if there aren't jobs, the economy can't grow, and if the economy can't grow, it can't create jobs, Ryder said that "that simple logic … wasn't apparent to policy-makers who started applying austerity in Europe to tackle the financial crisis."
He said "If you'd said that and had been listened to three or four years ago, perhaps you might have been able to avoid some of the excesses of the jobs crisis right now," adding "It's not the only element of the economic malaise we face but it's the quintessential centre of it all."
Donn Bobb, United Nations