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U.N.: Global Unemployment May Rise By 40 Million in 2009

The number of unemployed people worldwide could rise by more than 40 million by the end of this year, according to a United Nations agency. In its annual Global Trends Report, the International Labor Organization predicts that global unemployment will range between 210 million and 230 million, sharply up from the estimated 190 million who were unemployed by the end of 2008. The report says that if the worst-case scenario were to materialize, an additional 200 million people worldwide would become "working poor" - unable to earn more than US$2.00 per person per day - bringing the global total to around 812 million, or 26.8 percent of the global work force. The report suggests that governments offer special attention to small and medium-sized companies because they provide the bulk of jobs ad are most affected by the global financial crisis.

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