Wednesday, November 02, 2011
[IWS] IILS: WORLD OF WORK REPORT 2011: MAKING MARKETS WORK FOR JOBS [31 October 2011]
IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
International Institute for Labour Studies (IILS) at the ILO
World of Work Report 2011: Making markets work for jobs [31 October 2011]
[full-text, 159 pages]
This publication presents world labour market projections for the next two years, assesses risks of social unrest and discusses policies to boost real investment and avoid double-dip in employment.
Press Release 31 October 2011
World of Work Report 2011
ILO says world heading for a new and deeper jobs recession, warns of more social unrest
GENEVA (ILO News) – In a grim analysis issued on the eve of the G20 leaders summit, the
International Labour Organization (ILO) says the global economy is on the verge of a new and deeper
jobs recession that will further delay the global economic recovery and may ignite more social unrest
in scores of countries.
“We have reached the moment of truth. We have a brief window of opportunity to avoid a
major double-dip in employment,” said Raymond Torres, Director of the ILO International Institute
for Labour Studies that issued the report.
The new “World of Work Report 2011: Making markets work for jobs”says a stalled global
economic recovery has begun to dramatically affect labour markets. On current trends, it will take at
least five years to return employment in advanced economies to pre-crisis levels, one year later than
projected in last year’s report.
Noting that the current labour market is already within the confines of the usual six-month lag
between an economic slowdown and its impact on employment, the report indicates that 80 million
jobs need to be created over the next two years to return to pre-crisis employment rates. However, the
recent slowdown in growth suggests that the world economy is likely to create only half of the jobs
The report also features a new “social unrest” index that shows levels of discontent over the
lack of jobs and anger over perceptions that the burden of the crisis is not being shared fairly. It notes
that in over 45 of the 119 countries examined, the risk of social unrest is rising. This is especially the
case in advanced economies, notably the EU, the Arab region and to a lesser extent Asia. By contrast,
there is a stagnant or lower risk of social unrest in Sub-Saharan Africa and Latin America.
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