United Nations Radio

The world economy could shed up to 51 million jobs by the end of this year as a result of the global economic slowdown.

The International Labor Organization (ILO) in its Global Employment Trends report, says if the economic crisis continues to deteriorate, in a worst case scenario that kind of job loss could create a 7.1 percent global unemployment rate.  But the agency says more realistically, 30 million could lose their jobs if financial turmoil persists throughout this year.  The head of the ILO's Employment Sector is Jose Manuel Salazar:

" If the economic outlook deteriorates beyond what was envisaged in November, which we know is very likely and in a way has already been happening in the last two months, the global unemployment rate could rise to 6.5 per cent corresponding to an increase of the global number of unemployed by 30 million people in comparison to 2007."
 
ILO chief Juan Somavia says his agency's message is realistic, not alarmist.
And he quotes the report as saying some 200 million workers mostly in developing economies could be pushed into extreme poverty.

This is Donn Bobb reporting for United Nations Radio.
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