The IMF will today release its World Economic Outlook outlining the state of the world economy and is expected to downgrade growth forecasts.

110 million jobs by 2015 are needed just to return G20 countries to pre-crisis levels, according to figures from the OECD and ILO. That is 22 million new jobs every year.

ITUC General Secretary Sharan Burrow said “The IMF gave completely the wrong advice to countries to start on fiscal cuts. Their challenge now is to undo the damage inflicted on millions of workers who have lost their jobs.”

“Stretching from China to Chile we’re seeing the longest unemployment line the world has ever seen.

“The queue is only growing longer, while governments are shutting the door in the face of jobs seekers.

“IMF policies saved the jobs of the billionaires; now we need to create jobs for teachers, nurses and construction workers who are the beating heart of the real economy. Workers, not bankers, will drive the world out of the economic crisis.

“If we don’t create good jobs with decent wages, with rights for workers, we are sitting on a social and economic time bomb,” said Sharan Burrow.

ENDS
Spokespersons: Sharan Burrow, General Secretary; ITUC contact Gemma Swart (in Washington DC) on +32 479 06 41 63

James Howard, Chief Economist, ITUC +32 497 54 03 33 (English, French); Peter Bakvis, Washington Office Director, ITUC/Global Unions +1 202 974 8120 (French, Spanish, English)

Media: Gemma Swart, ITUC Press Officer, Washington DC +32 479 06 41 63