'Massive jobs shortfall' predicted for global economy

[marmar]

'Massive jobs shortfall' predicted for global economy
International Labour Organisation said the group of developing and developed nations had seen 20m jobs disappear since the financial crisis in 2008

Reuters
guardian.co.uk, Monday 26 September 2011


The world's major economies are heading for a "massive jobs shortfall" by the end of next year if governments do not change their tack on policy, the International Labour Organisation (ILO) said in a study published on Monday.

In the report, prepared with the OECD for G20 labour ministers meeting in Paris on Monday, the ILO said the group of developing and developed nations had seen 20m jobs disappear since the financial crisis in 2008.

At current rates it would be impossible to recover them in the near term and there was a risk of the number doubling by the end of next year, it said.

"We must act now to reverse the slowdown in employment growth and make up for the jobs lost," ILO director general Juan Somavia said in a statement. "Employment creation has to become a top macroeconomic priority." ............(more)

The complete piece is at: http://www.guardian.co.uk/business/2011/sep/26/job-creation-governments-ilo-crisis

[RKP5637]

1. No surprises here. 20th century methodologies are used to try to create jobs

in the 21st century and these haphazard methodologies are obsolete. Even the notion of what a job is will need to change for the 21st century, and the probability is many will not have jobs in the 21st century in the traditional sense.