Sunday, February 15, 2009
IF YOU THINK IT CAN"T HAPPEN HERE
Job Losses Pose a Threat to Stability Worldwide
By NELSON D. SCHWARTZ
Greg Baker/Associated Press
CHINA A job fair in Beijing on Feb. 7. Millions of workers across China are looking for work but finding that factories are closing.
High unemployment rates have led to protests in countries as varied as Latvia, Chile, Greece and Iceland and to strikes in Britain and France.
PARIS — From lawyers in Paris to factory workers in China and bodyguards in Colombia, the ranks of the jobless are swelling rapidly across the globe. Worldwide job losses from the recession that started in the United States in December 2007 could hit a staggering 50 million by the end of 2009, according to the International Labor Organization, a United Nations agency. The slowdown has already claimed 3.6 million American jobs.
High unemployment rates, especially among young workers, have led to protests in countries as varied as Latvia, Chile, Greece, Bulgaria and Iceland and contributed to strikes in Britain and France.