Economic crisis measures saved 21 million jobs: ILO

19th April 2010, Comments 0 comments

Some 21 million jobs were created or saved during the recent economic crisis thanks to extraordinary measures taken by governments, the International Labour Office said Monday.

"Fourteen million jobs in 2009 and another 6.7 million in 2010 add up to some 21 million jobs created or saved, equivalent to 1.0 percent of total employment for the G20 group," said the ILO.

The UN labour agency said fiscal stimulus measures directly contributed to 14.7 million of these jobs.

So-called automatic stabilisers -- such as unemployment benefits -- helped to preserve another 6.2 million jobs, said the ILO.

In addition, countries that have adopted these stimulus measures appeared to have exited the crisis more swiftly, it said, pointing to Australia, China and South Africa as examples.

"All countries that have decided on extraordinary fiscal stimulus have seen the effect of such spending, and countries with large fiscal stimulus packages seem to have reversed the downturn more quickly," it said.

The ILO had warned last year that millions of jobs could be at stake if stimulus plans were withdrawn prematurely.

It had also forecasted in January that global unemployment had surged in the economic crisis to leave a record 212 million people jobless.

© 2010 AFP

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