ILO seeks global pact on employment1 min read . Updated: 03 Jun 2009, 12:24 AM IST
ILO seeks global pact on employment
Geneva: The impact of the global economic crisis on jobs will be at the centre of the International Labour Organization’s (ILO) annual conference from Wednesday, amid forecasts that the downturn could raise unemployment to record levels.
ILO director general Juan Somavia is urging the conference to consider a “Global Jobs Pact" to stimulate job creation alongside other measures taken by world leaders to stimulate the economy and credit markets.
In its latest forecast for the conference released last week, ILO said that the average global unemployment rate could reach 6.8-7.4%, the highest level since 1991 when ILO first began collating such data.
The Global Jobs Pact sets no clear targets, apart from mitigating the impact of the crisis on working families and helping to generate a “sustainable" recovery that would encourage decent working conditions.