The International Labor Organization (ILO) predicted over 170,000 Indonesian workers to lose jobs this year, a paper said on Wednesday.

Economist at the organization Marcus Powell was quoted by Bisnis Indonesia as saying that the figure was an initial prediction of the ILO.

The global financial recession has slowed down the world economy.

The recession has trimmed demand and slumped prices of Indonesia's export products, including textiles, coal, palm oil, rubber and fabricated goods, which push the corporate to make adjustments by cutting the numbers of workers.

Indonesia is the world's biggest palm oil producer and the world's second biggest rubber maker.

(Xinhua News Agency February 4, 2009)