Raymond Torres, Director of the ILO Institute for International Labour Studies is the lead author of the report. “If nothing is done the projections from the ILO suggest that unemployment will increase this year by 6 million people globally and next year by an addition 5 million people. The report clearly points to the combination of austerity measures with ill-conceived labour market reforms as real cause for the deterioration happening in Europe and little by little spreading to other parts of the world. Austerity has not produced more economic growth. The view was that by reducing budgets by reducing public investment there would be more room for increases in private investment and private demand. This has not materialized if only because demand overall is weak and in addition enterprises continue to have difficulties especially small ones to have access to the credit system.”.
http://www.unmultimedia.org/radio/english/2012/04/11-million-people-to-lose-their-jobs-by-the-end-of-2013/
ReplyDeleteRaymond Torres, Director of the ILO Institute for International Labour Studies is the lead author of the report.
ReplyDelete“If nothing is done the projections from the ILO suggest that unemployment will increase this year by 6 million people globally and next year by an addition 5 million people. The report clearly points to the combination of austerity measures with ill-conceived labour market reforms as real cause for the deterioration happening in Europe and little by little spreading to other parts of the world. Austerity has not produced more economic growth. The view was that by reducing budgets by reducing public investment there would be more room for increases in private investment and private demand. This has not materialized if only because demand overall is weak and in addition enterprises continue to have difficulties especially small ones to have access to the credit system.”.