IMF Chief: Crisis Not Over Until Jobs Come Back

Global unemployment rates continue to climb – and the danger of global economic crisis is not past until jobs return, warns Dominique Strauss-Kahn, managing director of the International Monetary Fund. Only through cooperation can the IMF and the International Labor Oganization “steer globalization in the right direction,” maintains Juan Somavia, director-general for the ILO. Unsustainable polices, with wide variation among nations, contribute to ongoing uncertainty, a reticence among banks for lending and stagnation in job creation. Somavia calls for coherent, balanced polices and coordination among nations to end what’s become a corporate hopscotch game around the globe that threatens jobs for all. Until then, every job is a temporary job. – YaleGlobal