The ILO(International Labour Organisation) released its report “World Of Work Report 2011”. It says it will take another five years for employment in the advanced economies like USA, England, France, Germany , Japan etc to return to pre-crisis level, i.e to the level existing before the onset of world economic crisis in 2008. Thus the jobs existing in 2007 were drastically reduced due to the crisis and it will take five more years to reach the level of job numbers existing as on 2007. Eight crore new jobs are required to be created in the next two years in these developed countries to reach the 2007 level.
The recession is continuing and there is loss of confidence among the people in these countries. The expected growth rates are not materializing. The growth rate in 2011 and 2012 is 1.7% and 1.8% in USA, 1.6% and 0.3% in Eurozone(European countries) and -0.5% and 2.1% in Japan. On the other hand the growth rate in China will be spectacular, with 9.3% and 8.6%.
The ILO report further says that out of the 118 countries it surveyed, the risk of social unrest was rising in 45 countries. The unrest is rising in USA, and several European countries. In USA there is “Occupy Wall Street” movement going on since 17th September where in the people are organising protest camps in 100 cities in that country expressing protest against the looting of public money to help the Corporates to continue with their profits in spite of recession and at the same time imposing austerity measures on the people by imposing cuts in social security benefits and retrenchments. The unemployment reached 9%. This movement has spread in other countries also. There are several strikes and struggles in the European countries including England, France, Italy, Spain, Portugal etc. In Greece the strikes and struggles have become every day feature due to the continuous imposition of job cuts, salary cuts, pension cuts, health benefit cuts and the continuous benefits to the Corporates in the name of overcoming recession. The Prime Minister of Greece is finally compelled to announce referendum from all people whether the Government should go ahead with its policies of imposing austerity measures in order to reduce the debt of the country.
In India also the Government is agreeing that this recession will have its effect on India. But the solution being proposed by the UPA Government is the same old, outdated solution of more reforms i.e looting the working class and the people to help the Corporates to increase their profits.
Capitalism is ridden with crisis and the only alternative is socialism. While fighting to protect its benefits against these onslaughts, the working class has to raise the political demand for a change in the system. Otherwise it will be once again deceived and will have to face more hardships.(Source: BBC News)
Good information sir.
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