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Austerity measures in countries going through economic crisis may result in unrest, the International Labor Organization warned on the eve of Labor Day on May 1. It said the reforms that European leaders have crafted and now implementing may have “devastating consequences” since cuts in employment are not combined with job creation, creating the risky environment for unrest. Globally, around 6.1% of population are unemployed, translating into 202 million jobless people. At this pace, another 5 million will lose their jobs in 2013. Already, the streets of Spain are filled with workers protesting job cuts.
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