UN: Meltdown will create 20M lost jobs

October 20, 2008 8:46:27 AM PDT
The U.N. labor chief says the world financial meltdown will lead to at least 20 million lost jobs.The International Labor Organization says the increase will put the global unemployment total at 210 million by the end of 2009.

The ILO says that will be the first time the figure has been above 200 million in a decade of record-keeping.

ILO Director-General Juan Somavia said Monday that global leaders need to focus on the impact on individuals, not just financial institutions, when they devise rescue plans.