Slowdown to hit Asian jobs, says ILO | business | Hindustan Times
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Slowdown to hit Asian jobs, says ILO

Asia’s growth engines are likely record the lowest growth rates in the last 10 years as the ripple of a recession in the US and Europe cascade through the world economy, a latest report by the ILO said.

business Updated: Feb 18, 2009 10:40 IST
HT Correspondent

Asia’s growth engines – India and China—are likely record the lowest growth rates in the last 10 years as the ripple of a recession in the US and Europe cascade through the world economy, a latest report by the International Labour Organisation (ILO) said.

The report said that increasing job losses are contributing to the expansion of the informal economy with a rising number of workers in hazardous working conditions.

“The government needs to safeguard rights of workers,” an ILO spokesperson told Hindustan Times on telephone from Manila. Women and youth are likely to be hit harder from unemployment.

"Young workers with little job tenure are likely to be among the first to be let go by firms, while first-time jobseekers are likely to find themselves at a substantial disadvantage,” the report said.

The report said if policies are to be effective then job creation and protection must be at the core of national crisis response plans and the potential rise in working poverty must be addressed.