New Delhi: The economic slowdown has begun to look more sinister as it now threatens to wipe out up to 51 million jobs worldwide by the end of this year.
These projections have been made by the UN Agency - the International Labour Organisation on Wednesday. The most optimistic scenario this year would finish with 18 million more unemployed with a global unemployment rate of 6.1.
If the financial turmoil persists through 2009, it will make 30 million more people jobless, pushing up the world's unemployment to 6.5 per cent compared to 6.0 per cent in 2008.
In the worst-case scenario, according to a report by the Global Employment Trends, 51 million more jobs could be lost by the end of this year, thus putting the umemployment rate at 7.1 per cent.
The ILO's previous employment estimate, released in October, was that 20 million jobs would disappear by the end of 2009 as a result of the financial crisis.
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