Union leaders yesterday warned G20 heads of state that job losses in the global economy could vastly exceed the 50m estimate made four months ago.
Guy Ryder, general secretary of the International Trade Union Confederation, said that the International Labour Organisation had estimated last November that 50m jobs would be lost by the end of 2009.
Given that growth forecasts had since plummeted, this was now looking “optimistic”, Mr Ryder told the FT. “That figure was at the end of last year, since then the whole thing has got very much worse.”
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