Global Employment Trends, May 2009 Update

Prepared to provide an update to the ILO’s previous projects of the potential impact of the crisis on labour markets in 2009, this Global Employment Trends Update estimates that global unemployment could increase by between 29 million (lowest scenario) and 59 million (highest scenario) unemployed people in 2009 versus 2007, with a middle scenario of 39 million. All three scenarios imply severe labour market distress worldwide, whereby the sudden drop in the availability of job opportunities is leading to a build up in unemployment and deterioration in other labour market indicators.