'World needs 600m jobs in next decade'

Despite strenuous government efforts, the job crisis continues unabated, with one in three workers worldwide, or an estimated 1.1 billion people, either unemployed or living in poverty,” ILO Director General Juan Somavia said in the organization's 'Global Employment Trends 2012' report.

“Our forecast has become much more pessimistic than last year, with the possibility of a serious deceleration of the growth rate,” Somavia said, urging governments around the world to take immediate action by removing the economic uncertainty to pave the way for job creation.

The report also said that the youth are hit hardest by the unemployment crisis, since young people are almost three times more likely than adults to lose their jobs. The ILO added that youth unemployment currently stands at 12.7 percent.

“Whether we recover or not from this crisis will depend on how effective government policies ultimately are,” the report said.