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Global Unemployment Could Reach 50 Million This Year
The global financial crisis could wipe out 30 million jobs worldwide by the end of 2009, said the International Labor Organization (IOL), an agency of the United Nations.
The best-case scenario would be 18 million jobs lost, which would amount to a global unemployment rate of 6.1%. The loss of more than 50 million jobs lost and a 7.1% unemployment rate would be the worst-case scenario.
If the latter happens, the number of working poor – people who are unable to earn enough to lift themselves and their families above the poverty line ($2 per person per day) – may…
29Jan2009 | Money Morning | 0 comments | Continued
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