The Organization for Economic Cooperation and Development (OECD) issued a background paper to the G8 labor and unemployment ministers. Here are some projections for world economies:
- Growth in the 30 nations bloc will contract by 4.2% this year, down sharply from its earlier projection of 0.4%.
- Joblessness in the OECD areas would increase in the three years to 2010.
- These projections are based on the assumption that tensions in the financial markets will dissipate by the end of 2009
In a separate paper issued to the Rome G8 summit, the International Labour Organization projected the global unemployment could rise by 50 million this year, up from 11 million in 2008.
John Evans, leader of the trade unions in the OECD said the he wants workers' organizations represented at the London G-20 summit meeting.
The OECD is funded by the U.S., Japan and 28 other rich industrialized nations. The narrower G8 is made up of the US, Japan, Germany, Britain, France, Italy, Canada and Russia.
These projections of OECD nations' growth contracting by 4.2% and an an additional 50 million people unemployed this year seem quite startling. Do you believe that we will come out of this recession this year?











Reader Comments (Page 1 of 2)
3-30-2009 @ 10:17AM
larry said...
ALL AUTO WORKERS SHOULD SEND -OBAMA THE PSYCHOPATH- A NOTE OF THANKS FOR LOSING YOUR JOBS--GEITHNER WILL NOW RUN THE COMPANY WHICH MEANS DESTRUCTION FOR ALL
3-30-2009 @ 10:26AM
ts422 said...
Larry
Years of overspending and producing the wrong type of product line is what has casued destruction for you all.
It's not like they haven't had the past 20 years to make themselves marketable and competitive.
3-30-2009 @ 10:52AM
John said...
What kind of cars would You Build Smart Guy ?
3-30-2009 @ 10:42AM
Dave said...
The unions have led you down the wrong path.
3-30-2009 @ 11:03AM
John said...
SUV's are what produced profits. and they are what alot of people want to drive. until the price of fuel is driven up to a ridiculous level by Government regulation. The same government regulation that forces company's to build these crappy little green go carts that nobody wants. its this government regulation, fat Union Contracts, and Fat Executive pay packages and bonuses that are killing the big three.
3-30-2009 @ 11:00AM
Larry said...
ts422
Big SUV was what Americans wanted! Plus they made higher profits for those big cars compared to smaller ones. That's why GM & Ford did well for so long.
3-30-2009 @ 11:01AM
jflu1961 said...
Government interference in both Oil production and in the auto industry along with Fat Union contracts, fat Executive Pay Packages and Bonuses are what is killing the auto industry. The Big 3 built SUV's because they were profitable and they were what was selling. the vast majority of people are not interested in Your Crappy Little Green Enviro. Friendly Go Carts.
3-30-2009 @ 11:09AM
Larry said...
ts422
I'm not the larry who's comment you were responding to but I agree with him on the point that government should not take control of G.M.
3-30-2009 @ 11:19AM
Bill Vaughn said...
I understand the problems many have with this recession and unemployment, but I do not understand why they let it happen to themselves. If you want a better life, don't wail about your life - get out there and change it. Find a plan that can work, and then work it. You will do fine. I chose Bill Vaughn's program a couple years ago from the internet and I'm doing just fine even during these bad times, so i know you can do it if you really want to. If you won't do anything to help yourself, then you already have the life you deserve. Get up. Find or make a plan. Work the plan. Recession or not, you will do well. What will NOT help is throwing your hands in the air and wailing Woe is Me..
3-30-2009 @ 11:55AM
B2slim said...
THEY ELECTED the teleprompter reader!
___________NO PRESIDENT has the right or authority to hire or fire ANYONE in the PRIVATE SECTOR__________
3-30-2009 @ 11:57AM
B2Slim said...
_NOTICE___-the teleprompter reader did not FIRE ONE UNION LEADER !
3-30-2009 @ 11:59AM
page114 said...
Raise import tariffs and put Americans back to work.Simple as that.
3-30-2009 @ 12:01PM
B2Slim said...
the ISSUE is NOT about "cars" buying or selling, driving them___etc.
The ISSUE is that the Dictator is taking over PRIVATE industries, installing his ACORN RADICAL GOONS as CEO's and dictating Private enterprise !
HE has revolked every right of the citizens, the shareholders, etc.
3-30-2009 @ 8:07PM
Diane Bradburd said...
We no longer need unions they do not help anymore except to line their own pockets. where are all the jobs obama said he would create for us still out of work
3-30-2009 @ 12:06PM
B2Slim said...
YO____INDIA_____KEEP our HIGH tech jobs, the teleprompter reader announced during his ONLINE townhall meeting:
it went like this:
MR Teleprompter of the USA told in an online town hall meeting that
INDIA should KEEP those 2,700 IBM high tech jobs that just left the country because their value of $80,000 per year salaries are NOT WORTH it for USA workers, they cannot live on $80,000 plus full benefits!
HIS REALLY exciting BIGGER PLAN HE said is to train new “electricians” to install his “CONTROL” your life controls in your house: THAT is where all of the new jobs are going to be created he said.
AND probably growing more grass for alternative energy too.
3-30-2009 @ 12:06PM
Diane Bradburd said...
We don't need unions anymore all they do is line their pockets with our money. Where are the jobs obama promised us.
3-30-2009 @ 12:20PM
Don Ruppel said...
Should we trust anything that group says ? They can't even get simple math correct !!
They said "Joblessness in the OECD areas would increase in the three years to 2010."
In the three years to 2010 ?? 2010 is only 1 year away !
3-30-2009 @ 12:29PM
Annee said...
For years the unions held the company hostage to their strikes. My first experience with foreign cars was in about 1974. Our old nash rambler had to be replaces. Problem: uaw strike meant little choice on the lots and no orders. Many people were switching that new kid on the block Toyota. We kept looking and ended up with a ford Pinto which was a great car after the gas tank was fixed. Drove it for 8 years. Meantime, sales lost to foreign cars never recovered. Trying to recover is tough when you have to keep paying bribes to the union in order to keep going.
And the factory parking lot is full of foreign cars.
Your chickens have come home to roost union members.
3-30-2009 @ 2:17PM
mike hylton said...
until the unions make concessions, serious concessions especially in the retirement areas they are not going to survive, if the retired are not willing to make some concessions they face loosing it all they cant have it both ways
3-30-2009 @ 2:39PM
joe blow said...
THE UNIONS AND THEIR GREED HAS BROUGHT THIS COUNTRY TO THE BRINK OF DESTRUCTION. WHAT OTHER COUNTY CAN A KNOW NOTHING MAKE 80,000 A YEAR FOR DOING NOTHING!!!!!