G20 seeks ways to boost jobs in face of gloomy outlook

By REUTERS
September 26, 2011 18:11

 
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PARIS - G20 Labor ministers in meetings on Monday and Tuesday in Paris face the tricky task of trying to boost job creation in the face of a fast-deteriorating economic outlook without undermining already strained public finances.

With a new global downturn brewing, the Group of 20 economic powers are still 20 million jobs short of returning to employment levels of before the 2008 financial crisis.

But G20 countries face a worsening in the shortfall to some 40 million jobs from 2012 as governments seem to be failing to maintain a nascent recovery in the job market, the International Labor Organization and Organization for Economic Co-operation and Development wrote in a report published on Monday.

The Labor ministers were meeting under France's G20 presidency to share notes on fighting unemployment ahead of a summit in early November of the group's heads of state in Cannes.

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