Global 'Austerity Trap' Has Caused 'Alarming' Jobs Crisis

[marmar]

Published on Monday, April 30, 2012 by Common Dreams

Global 'Austerity Trap' Has Caused 'Alarming' Jobs Crisis
New report from ILO highlights failures of austerity model to improve global jobs crisis

- Common Dreams staff


The current global jobs situation is "alarming," and many countries have fallen into the "austerity trap," according to the new report “World of Work Report 2012: Better Jobs for a Better Economy” from the International Labor Organization (ILO).

The report finds the path of austerity that many countries have chosen simply has not generated jobs and has worsened the economic situation.

"The narrow focus of many Eurozone countries on fiscal austerity is deepening the jobs crisis and could even lead to another recession in Europe,” said Mr. Raymond Torres, Director of the ILO Institute for International Labor Studies and lead author of the report.

In contrast to the austerity choosing countries, "countries that have chosen job-centered macroeconomic policies have achieved better economic and social outcomes,” added Mr. Torres. ....................(more)

The complete piece is at: http://www.commondreams.org/headline/2012/04/30-3

[Fire Walk With Me]

1. When are the masses going to get that it's a complete lie

and that like Iceland, they don't have to pay the bill at all?