It has been six years since the start of the global financial
crisis, but job creation remains weak in many G20 countries,
preventing a significant decline in the often record-high
levels of unemployment and underemployment, especially
in some of the most vulnerable segments of the population.
Unfortunately, the short-term labour market outlook is not
encouraging, despite growing disparities across countries;
while unemployment is gradually declining in the United
States and other large G20 countries, it is still high if not
peaking in certain countries particularly hit by the crisis.
Against this background, it is not surprising that the World
Economic Forum’s Outlook on the Global Agenda 2014
and Global Risks 2014 report identify widening income
disparities and persistent structural unemployment and
underemployment as the most serious problems confronting
decision-makers.
Owing to weak job prospects, high unemployment,
diminished social spending and rising inequalities, the role of
governments collaborating with social partners to promote
inclusive growth and jobs has never been so important.
crisis, but job creation remains weak in many G20 countries,
preventing a significant decline in the often record-high
levels of unemployment and underemployment, especially
in some of the most vulnerable segments of the population.
Unfortunately, the short-term labour market outlook is not
encouraging, despite growing disparities across countries;
while unemployment is gradually declining in the United
States and other large G20 countries, it is still high if not
peaking in certain countries particularly hit by the crisis.
Against this background, it is not surprising that the World
Economic Forum’s Outlook on the Global Agenda 2014
and Global Risks 2014 report identify widening income
disparities and persistent structural unemployment and
underemployment as the most serious problems confronting
decision-makers.
Owing to weak job prospects, high unemployment,
diminished social spending and rising inequalities, the role of
governments collaborating with social partners to promote
inclusive growth and jobs has never been so important.
Owing to weak job prospects, high unemployment,
diminished social spending and rising inequalities, the role of
governments collaborating with social partners to promote
inclusive growth and jobs has never been so important.
Breaking the vicious circle is an imperative. Working with
fellow Global Agenda Councils, the Global Agenda Council
on Employment calls for decisive action to put this issue at
the centre of their agendas. Clear commitments have been
made, by G20 governments, Business20 and Labour20.
It is vital to turn these obligations into concrete steps, in a
holistic and coordinated plan for more and better jobs.
By Stefano Scarpeta,Directorate for Employment,
Labor and Social Affairs(DELSA) and OECD, Paris.
