UN: world unemployment could rise by 40 million

Geneva: The global economic downturn could see 40 million more people lose their jobs by the end of the year, taking the unemployment rate to its highest in a decade, the UN labour agency said on Wednesday. The number of unemployed in 2009 will largely depend on how effective government’s economic stimulus measures are, the international labour organization cautioned. Worldwide unemployment by be end of the year will range between 210 million and 230 million people, the agency said in its annual global employment trends report. That is a marked
Increase on the 179 million who were unemployed at the end of 2007 and the estimated 190 million at the end of 2008, the ILO said. The worst case scenario assumes growth slows rapidly and that an economic recovery will be delayed into 2010.

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