UN warns global jobless may grow by 40 million this year

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While that is ILO's worst-case scenario, even its most optimistic assessment forecasts 18 million more unemployed by the end of this year than in 2007.

Global unemployment soared to 190 million last year, with 10.7 million people losing their jobs, the largest yearly increase since 1998, the ILO says.

The UN agency warns that the global recession is likely to accelerate the trend and could cause social instability around the world.

"In all scenarios, there will be an increase in the global unemployment rate in 2009, in particular in developed economies," the agency adds.

The report, Global Employment Trends, says that even when people in the developing world have jobs, they are often unproductive and part-time, and pay too little to keep families out of poverty. It adds that there could be more than a billion people in Asia in this predicament.

More than 20% of the world's workers take home $1.25 a day, and 40% $2 a day. The ILO adds its voice to a growing chorus of analysts who warn of social instability arising from the economic crisis.

"The absence of decent and productive work is the primary cause of poverty and social instability," it says.

"The economic crisis has elevated the previous high level of concern over the social impacts of globalisation. The trends [are] extremely worrying."

Unemployment is rising sharply in Britain as recession bites, with City staff and factory workers in particular feeling the pain. Manufacturer GKN today said it has cut 2800 jobs globally from its car-parts businesses since October, including 240 in the UK, with more expected this year.