Employment prospects are uncertain
Nearly 60 per cent of the world's labour force will be in Asia by 2010, with China alone making up one-quarter of the global labour force. The other developing regions (Sub-Saharan Africa, the Middle East and North Africa, and Latin America and the Caribbean) will also account for an increased portion of the world labour force by 2010. Meanwhile, the share of industrialized countries and transition economies in the world labour force will decrease to about one-fifth by 2010. Thus, the bulk of the jobs that need to be created by 2010 must come in Asia (60 per cent) and Sub-Saharan Africa (15 per cent).
"If these jobs are to contribute to alleviating poverty, they must be productive and offer decent conditions," Mr. Somavia said. "Both faster economic growth and policies to promote the creation of decent and productive work opportunities are needed."
Greater unemployment and poverty will place severe pressure on governments' budgetary targets, given the fragile financial position of many countries, the report says. Policy makers should focus on measures to secure and spread the recovery and ensure that faster growth yields the maximum number of decent work opportunities, reduces unemployment and poverty and restarts employment growth. First, a "pro-jobs" policy involving fiscal and other measures to "jump-start" growth and stimulate employment-intensive investment is essential. This must be accompanied by an incentive structure for the private sector that favours the choice of employment creation.
Nearly 60 per cent of the world's labour force will be in Asia by 2010, with China alone making up one-quarter of the global labour force. The other developing regions (Sub-Saharan Africa, the Middle East and North Africa, and Latin America and the Caribbean) will also account for an increased portion of the world labour force by 2010. Meanwhile, the share of industrialized countries and transition economies in the world labour force will decrease to about one-fifth by 2010. Thus, the bulk of the jobs that need to be created by 2010 must come in Asia (60 per cent) and Sub-Saharan Africa (15 per cent).
"If these jobs are to contribute to alleviating poverty, they must be productive and offer decent conditions," Mr. Somavia said. "Both faster economic growth and policies to promote the creation of decent and productive work opportunities are needed."
Greater unemployment and poverty will place severe pressure on governments' budgetary targets, given the fragile financial position of many countries, the report says. Policy makers should focus on measures to secure and spread the recovery and ensure that faster growth yields the maximum number of decent work opportunities, reduces unemployment and poverty and restarts employment growth. First, a "pro-jobs" policy involving fiscal and other measures to "jump-start" growth and stimulate employment-intensive investment is essential. This must be accompanied by an incentive structure for the private sector that favours the choice of employment creation.