The world economy is in a severe economic downturn with potentially
dire consequences for workers and their families. The ultimate dimensions
of this crisis are not yet known, but it is already clear that it will be the
deepest recession of the post-war era for the OECD area, with the average
unemployment rate heading toward an all-time high of nearly 10% at the end
of 2010. While the recession appears to be slowing, the recovery is expected
to be initially weak; and history shows that unemployment is slow to recede,
even once an economic recovery is under way.