International Business

U.N. Labor Body Warns of World Jobless Crisis: The International Labor Organization said the world is drifting into an employment crisis and called upon governments to work together to avert a social disaster. In a major report, “World Employment 1995,” the U.N. body said about 820 million people--30% of the global labor force--were without jobs or underemployed at the end of 1994. Worldwide, the situation was the worst since the Great Depression of the early 1930s, and without concerted action, the number of people out of work will swell rapidly, increasing global social unrest, the report says. The 200-page report, compiled by ILO analysts, says that most industrialized countries and former communist transition states are facing double-digit jobless rates.