The global financial crisis could cost some 20 million jobs worldwide, the International Labour Organisation (ILO) warned Monday. ILO Director-General Juan Somavia issued the warning in Geneva, coupled with the advice that “we need prompt and coordinated government actions to avert a social crisis that could be severe, long-lasting and global”.

By current calculations, worldwide unemployment could rise from 190 million last year to a level of 210 million by the end of 2009. With that number of people having to exist on less than $1 a day could rise by 40 million, he warned, “and those at $2 a day by more than 100 million”.

Almost all sector including construction, automotive, tourism, finance, services and real estate would be among the sectors to be hit hardest by the current crisis.

News Source: MSN India