Unions are often accused of scare-mongering in a bid to get their point across, but the potential loss of jobs in today's harsh economic climate has to be taken seriously.

Dependent for so many years on the industrial sector, the Illawarra knows all too well what happens to the local economy when a downturn hits.

The union has warned of a "tsunami effect" on areas such as Wollongong if the steel industry collapses during the global economic crisis and says the effects are already being felt in the slowing down of steel orders.

It has put forward a 10-point plan in a bid to save jobs, but the success of the plan is very much dependent on the Federal Government.

Union officials are blunt about the industry's future if the Government doesn't recognise the need for immediate measures to stimulate steel demand and protect foreign takeovers.

Companies, workers and the unions have taken steps to address the slowdown in the industry by reducing overtime, casual and contractor hours, delaying capital investment projects and not filling vacancies.

It's now up to the Government to come to the party.