UN report: Immediate action needed to avoid 4.5 million EU job losses

A UN report has today warned that the 17 member eurozone is now facing its worst crisis since the creation of the euro.

The International Labour Organisation, which is the UN's labour agency, said unemployment is on the rise in the majority of the eurozone countries.

It warned that Eurozone nations must act now to prevent creating a further 4.5 million unemployed workers in the next four years.

The ILO has frequently warned against austerity measures as a way out of financial difficulties.