Labour group sounds jobs alarm

The International Labour Organization sounded the alarm on the global jobs situation in its annual report published yesterday, as it called for more coordination of fiscal policies, repair and regulation of the financial sector and support for the real economy. “What has changed with respect to last year is that our forecast has become much more pessimistic,” said Ekkehard Ernst, one of the report's authors. The ILO said that it no longer expected “a gradual stagnation or coming down of unemployment numbers,” warning that another 40m jobs need to be created each year for the next decade.