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

Blog at WordPress.com.