LayoffBlog.com

February 19, 2009

Asian Joblessness to Balloon

Asia is likely to have 7.2 million more jobless people in 2009 than last year due to fallout from the global economic crisis, the International Labor Organization said.

It forecast the ranks of unemployed workers would likely balloon to 97 million in 2009 in Asia, the world economy’s star performer in recent years but where a third of the population still live on a little more than $1 a day.

“As global demand for workers contracts, the flow of migrant workers from developing Asia will moderate in 2009,” the ILO report said. “For labor-sending countries, this will exacerbate the challenge of mitigating job losses and generating new employment domestically.”

Source: The Wall Street Journal

1 Comment »

  1. For the past several days our Secretary of State, Hillary Clinton, has been devoting her time to Asia, moving from country to country in an attempt to understand regional concerns over the economic conditions these past few months have presented, along with assuring Asian leaders President Obama values there cooperation in understanding the “trade” issues at hand, during these burdening times.

    http://ourcountryspresident.wordpress.com/2009/02/20/is-it-jealousy-or-just-attempting-to-get-attention/

    Comment by Tom Awtry — February 19, 2009 @ 4:34 pm | Reply


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