WESO Trends 2017: the disconnect between growth and employment.

WESO Trends 2017: the disconnect between growth and employment.


World Employment and Social Outlook
Trends 2017 Economic growth continues to disappoint, both in terms of its level but also, and perhaps more importantly, in terms of its ability
to make important in roads to making growth more inclusive. In other words, economic growth is not leading to enough quality job creation and things are expected to worsen this year. Deep recessions in major
emerging economies in 2016 will wreak havoc on labour markets in 2017. In addition, employment gains in developed economies, such as the United States
and many European countries, that have brought unemployment
levels down in recent years are expected to stall and concerns
regarding job quality persist. As a result, global unemployment is expected
to rise by 3.4 million in 2017 to top 201 million. Most of this increase will take place
in the emerging economies. Unemployment, however,
is just the tip of the iceberg. The quality of jobs being created
remains a pressing issue worldwide. For example, the number of people in vulnerable
forms of employment is expected to reach over 1.4 billion in 2017. In addition, more than
780 million will be working but will earn less than 3 dollars
and 10 cents per day. Policies that address the root
causes of the disconnects between growth and employment and between growth and equity will help offset the rise in unemployment. To find out more on the potential impact
of policies in reducing unemployment, check out the next video in our series. And be sure take a look at the ILO’s World Employment
and Social Outlook Trends 2017 report.

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