The rally organised by the Irish Congress of Trade Unions (ICTU) is against the threat to job cuts in the public and community sectors.
Secretary of Derry Trades Council, Liam Gallagher said: "Every part of the public sector is under attack as Stormont wields the axe so as to meet Treasury spending demands-the same Treasury which can find billions to bail out the banks.
"Health, education and council jobs are at risk. Funding for the young, the elderly, people with special needs, for women's groups, is being withdrawn. The Excutive is considering another attempt to impose water charges and the threat of privitisation of public services is growing."
Mr Gallagher also hit out at Stormont Minister for Finance, Sammy Wilson.
"The minister wants to slash a further £370 million from spending. Jobs, wages and services to the community will go-unless the strongest possible pressure is brought to bear.
"The same issues affect trade unionists and their fa,ilies across Northern Ireland and the entire island. There will be similar rallies next Friday in Belfast, Newry, Enniskillen, Magherafelt and Cookstown. The republic will see rallies in Dublin, Cork, Waterford, Limerick and Dundalk," he said.
The trade union leader also said that the planned protests are the beginning of a campaign agianst cuts and not an end. Liam Gallagher said: "If job losses and cuts are forced through against the wishes of the people on the receiving end, trades unions and others will have to consider how to respond to maximum effect."
The ICTU protest will take place at Customs House Street, beside the Guildhall, aand begins at 1pm.