Monday, January 20, 2014



IWS Documented News Service


Institute for Workplace Studies----------------- Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor---------------------- Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau



International Labour Organization (ILO)





[full-text, 120 pages]


Executive Summary


[full-text, 5 pages]


NOTE: embargo was lifted because of breach by "Süddeutsche Zeitung".



The global labour market situation remains uneven and fragile. True, there are encouraging

signs of economic recovery in those advanced economies most affected by the global financial

crisis which erupted in 2008. Also, a number of emerging and developing countries − including

recently in Sub-Saharan Africa − are enjoying relatively robust economic growth. The world

economy may thus be growing somewhat faster than over the past three years.


However, the report finds that those economic improvements will not be sufficient to

absorb the major labour market imbalances that built up in recent years. First, over the foreseeable

future, the world economy will probably grow less than was the case before the global

crisis. This complicates the task of generating the over 42 million jobs that are needed every

year in order to meet the growing number of new entrants in the labour market.


Second, and more fundamentally, the root causes of the global crisis have not been properly

tackled. The financial system remains the Achilles heel of the world economy. The state of

many banks is such that many sustainable enterprises, notably small ones, have limited access

to credit, thereby affecting productive investment and job creation. Significant financial bubbles

have re-appeared in a number of advanced and emerging economies, adding new uncertainties

and affecting hiring decisions. Also, global labour incomes continue to increase at a

slower pace than justified by observed productivity gains, thus affecting aggregate demand.


Third − and this is an important new finding in view of the post-2015 development

debate − little progress is being made in reducing working poverty and vulnerable forms

of employment such as informal jobs and undeclared work. If confirmed, this trend would

unambiguously delay the achievement of development goals.


To ensure lasting job recovery, the report highlights the role of a strategy that combines

short-term measures (job-friendly macroeconomic and labour market policies) with further

action to tackle long-standing imbalances. Such a strategy would strengthen the economic

recovery and pave the way for more and better jobs.




This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.



Links to this post:

Create a Link

<< Home

This page is powered by Blogger. Isn't yours?