This publication provides a comprehensive analysis of recent social unrest and trends in labour markets, and assesses likely prospects. It highlights the risks of an employment double-dip associated with ongoing strategies which put too much emphasis on the short-term preoccupations of financial markets. It also shows that policies focusing on jobs and real investment would boost recovery prospects while at the same time addressing the root causes of the global financial crisis. Market forces, crucial as they are, should work for jobs and people’s needs. The following issues are examined: the
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This publication provides a comprehensive analysis of recent social unrest and trends in labour markets, and assesses likely prospects. It highlights the risks of an employment double-dip associated with ongoing strategies which put too much emphasis on the short-term preoccupations of financial markets. It also shows that policies focusing on jobs and real investment would boost recovery prospects while at the same time addressing the root causes of the global financial crisis. Market forces, crucial as they are, should work for jobs and people’s needs. The following issues are examined: the impact of the economic slowdown on jobs and likely prospects for the next few years; the risk of growing social unrest and how this is related to labour market developments and perceptions that the burden of the crisis is not shared in a fair manner; policies which, at little or no fiscal cost, can encourage investment in the real economy and a closer connection between wages and productivity, thus reducing the risk of an employment double-dip, and how such policies can be implemented in different countries; how tackling financial speculation on food commodities can enhance private-sector incentives for farmers investing in agriculture, thereby alleviating the food crisis and supporting decent work opportunities in developing crisis; and the importance of pro-employment programs in boosting recovery while meeting medium-term fiscal goals, and the role of a broader tax base in this respect. This report shows that a sustainable, job-rich recovery is possible, provided that the factors that led to the crisis are tackled.
Published abstract.
The contents are as follows: Editorial / Raymond Torres; Market turbulence, employment and social unrest: trends and outlook / [Federico Curci, Sameer Khatiwada and Steven Tobin, with contributions from Ekkehard Ernst]; Making profits work for investment and jobs / [Veronica Escudero, Sameer Khatiwada and Elva Lopez]; The labour share of income: determinants and potential contributions to exiting the financial crisis / [Matthieu Charpe with contributions from Steven Tobin]; Investing in food security as a driver of better jobs / [Uma Rani and Marva Corley-Coulibaly]; Tax reform for improving job recovery and equity / [Marva Corley-Coulibaly, Naren Prasad and Pelin Sekerler Richiardi]; Effective employment policy under tight fiscal constraints / [Matthieu Charpe and Stefan Kuhn].
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