G20 saves 21 mln jobs with crisis measures – UN

* Stimulus measures, stabilisers save or create jobs

* Jobs lost in manufacturing, construction, wholesale/retail

* Job gains in utilities, health, education, administration

GENEVA, April 19 (BestGrowthStock) – G20 countries have saved or
created 21 million jobs in 2009 and 2010 through policies to
tackle the economic crisis, a United Nations agency said on
Monday.

A study by the International Labour Organisation (ILO)
called on G20 governments not to activate exit strategies from
their extraordinary stimulus measures prematurely.

But the study, prepared for a meeting of labour and
employment ministers in Washington on April 20-21, acknowledges
the need for fiscal consolidation.

“Growth remains fragile and private sector demand weak in
many countries,” the ILO said.

“Measures that support jobs and social protection should be
maintained until employment growth gains significantly more
momentum,” it said in a statement on the study.

Slack conditions in the labour market that accumulated from
the second half of 2008 remain high in the first quarter of
2010, despite the beginnings of economic recovery, it said.

Another development is rising informal employment and
poverty in some developing and emerging economies, coupled with
generally weak growth in real wages in countries at all income
levels, it said.

The ILO study found that discretionary fiscal stimulus had
created or saved 8 million jobs in G20 countries in 2009 and 6.7
million in 2010, while automatic stabilisers such as
unemployment benefits and taxation may have saved or generated
6.2 million jobs across G20 countries in 2009.

The resulting 21 million jobs corresponds to one percent of
total employment in the G20 area, it said.

The ILO said that 6 million jobs have been lost in
manufacturing, 2.8 million in construction and 2.3 million in
wholesale and retail trade in the two years to the third quarter
of 2009 among 15 G20 countries with available data.

During the same period utilities, education, public
administration and health showed increases in employment.
(For full ILO report go to http://link.reuters.com/xyq48j )
(Reporting by Jonathan Lynn; Editing by Simon Cameron-Moore)

G20 saves 21 mln jobs with crisis measures – UN