This chapter presents the state of the world's labour markets. On account of stronger than expected GDP growth, unemployment continued to fall in line with rising employment and labour force participation. Mounting fragilities, such as slowing growth and rising sovereign debt will take a toll on unemployment and the jobs gap in 2024, both of which are set to slightly deteriorate through 2025. Moreover, persistent working poverty and informality continue to present major challenges for social justice that are unlikely to improve over the medium term.
{"title":"Labour market resilience will be tested in the near term","authors":"Steven Tobin","doi":"10.1002/wow3.203","DOIUrl":"https://doi.org/10.1002/wow3.203","url":null,"abstract":"This chapter presents the state of the world's labour markets. On account of stronger than expected GDP growth, unemployment continued to fall in line with rising employment and labour force participation. Mounting fragilities, such as slowing growth and rising sovereign debt will take a toll on unemployment and the jobs gap in 2024, both of which are set to slightly deteriorate through 2025. Moreover, persistent working poverty and informality continue to present major challenges for social justice that are unlikely to improve over the medium term.","PeriodicalId":339010,"journal":{"name":"World Employment and Social Outlook","volume":"13 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140468333","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Chapter 2 presents labour market trends by broadly defined regions. Headline indicators show an improvement in most regions, with a slight deterioration for 2024 and considerable downside risk. Employment is growing in all regions, although often driven by growth in the working‐age population. Employment‐to‐population ratios are also approaching pre‐pandemic (2019) levels in most regions. Unemployment rates are also recovering to pre‐pandemic levels, with similar subregional exceptions, including non‐GCC Arab States and East Asia, for which ratios remain above 2019 levels. Considerable heterogeneity remains across subregions and different labour market dimensions. Weaker job growth is expected in 2024 owing to various geopolitical tensions and tighter global monetary conditions.
{"title":"Employment and social trends by region","authors":"Richard Horne","doi":"10.1002/wow3.204","DOIUrl":"https://doi.org/10.1002/wow3.204","url":null,"abstract":"Chapter 2 presents labour market trends by broadly defined regions. Headline indicators show an improvement in most regions, with a slight deterioration for 2024 and considerable downside risk. Employment is growing in all regions, although often driven by growth in the working‐age population. Employment‐to‐population ratios are also approaching pre‐pandemic (2019) levels in most regions. Unemployment rates are also recovering to pre‐pandemic levels, with similar subregional exceptions, including non‐GCC Arab States and East Asia, for which ratios remain above 2019 levels. Considerable heterogeneity remains across subregions and different labour market dimensions. Weaker job growth is expected in 2024 owing to various geopolitical tensions and tighter global monetary conditions.","PeriodicalId":339010,"journal":{"name":"World Employment and Social Outlook","volume":"271 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140463051","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Chapter 3 provides an assessment of the growing imbalances between the demand for and supply of labour. It documents large discrepancies between labour demand and available supply across advanced economies and key sectors that are slow to resolve and discusses both short‐term and secular factors that affect these imbalances. The chapter suggests a certain number of policy options, including comprehensive skills partnerships between countries to alleviate the global imbalances that exist between countries.
{"title":"Labour shortages amidst unmet demand for decent work","authors":"Lisa Feist","doi":"10.1002/wow3.205","DOIUrl":"https://doi.org/10.1002/wow3.205","url":null,"abstract":"Chapter 3 provides an assessment of the growing imbalances between the demand for and supply of labour. It documents large discrepancies between labour demand and available supply across advanced economies and key sectors that are slow to resolve and discusses both short‐term and secular factors that affect these imbalances. The chapter suggests a certain number of policy options, including comprehensive skills partnerships between countries to alleviate the global imbalances that exist between countries.","PeriodicalId":339010,"journal":{"name":"World Employment and Social Outlook","volume":"1356 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140466982","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"2 Employment and social trends by region","authors":"Richard L. Horne","doi":"10.1002/wow3.186","DOIUrl":"https://doi.org/10.1002/wow3.186","url":null,"abstract":"","PeriodicalId":339010,"journal":{"name":"World Employment and Social Outlook","volume":"90 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117323411","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"1 Stalled labour market recovery undermines social justice","authors":"Stefan Kühn, Ekkehard Ernst","doi":"10.1002/wow3.185","DOIUrl":"https://doi.org/10.1002/wow3.185","url":null,"abstract":"","PeriodicalId":339010,"journal":{"name":"World Employment and Social Outlook","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128390827","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"3 Global productivity trends: Reviving growth through the digital economy?","authors":"Daniel K. Samaan, Miguel Sanchez Martinez","doi":"10.1002/wow3.187","DOIUrl":"https://doi.org/10.1002/wow3.187","url":null,"abstract":"","PeriodicalId":339010,"journal":{"name":"World Employment and Social Outlook","volume":"60 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114672465","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Chapter 1 investigates the prospects for a global labour market recovery from the COVID‐19 crisis. It presents an analysis of factors that hold back the labour market recovery. The continuing pandemic, but also macroeconomic risks such as those related to inflation, all slow down and even threaten to derail the recovery. Unequal access to vaccines and different capacity to provide fiscal policy support created a great divergence in the recovery trajectories, with high‐income countries performing much better. The chapter also warns of the risk that the damaging impact of the pandemic on jobs and livelihoods, if not quickly reversed, will of inducing long‐term structural change with enduring adverse implications for labour markets. The ILO Centenary Declaration for the Future of Work provides a blueprint for a human‐centred agenda to overcome the crisis, address existing challenges and lead to a better future.
{"title":"1 Rebuilding a resilient world of work after the COVID‐19 pandemic","authors":"Sabine Dewan, Ekkehard Ernst, Stefan Kühn","doi":"10.1002/wow3.178","DOIUrl":"https://doi.org/10.1002/wow3.178","url":null,"abstract":"Chapter 1 investigates the prospects for a global labour market recovery from the COVID‐19 crisis. It presents an analysis of factors that hold back the labour market recovery. The continuing pandemic, but also macroeconomic risks such as those related to inflation, all slow down and even threaten to derail the recovery. Unequal access to vaccines and different capacity to provide fiscal policy support created a great divergence in the recovery trajectories, with high‐income countries performing much better. The chapter also warns of the risk that the damaging impact of the pandemic on jobs and livelihoods, if not quickly reversed, will of inducing long‐term structural change with enduring adverse implications for labour markets. The ILO Centenary Declaration for the Future of Work provides a blueprint for a human‐centred agenda to overcome the crisis, address existing challenges and lead to a better future.","PeriodicalId":339010,"journal":{"name":"World Employment and Social Outlook","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126498875","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Chapter 3 provides an overview of the context of temporary employment, including long‐term trends, before considering the experience of temporary work during the COVID‐19 crisis and what may be expected in the recovery phase. All of which have important implications for workers, enterprises and economies. The chapter demonstrates that temporary employment has served as a buffer against the shock caused by the pandemic, as it has done in previous crises. Employers have scaled back the use of temporary workers, causing significant gross job loss among this category of workers. At the same time, many permanent employees who lost their jobs have found new opportunities in temporary employment. The net effect is that the share of temporary workers among all employees has remained fairly constant in countries with available annual data, concealing the significant labour market churn.
{"title":"3 Temporary workers and COVID‐19: Currents below a calm sea","authors":"Richard L. Horne, S. Soares","doi":"10.1002/wow3.180","DOIUrl":"https://doi.org/10.1002/wow3.180","url":null,"abstract":"Chapter 3 provides an overview of the context of temporary employment, including long‐term trends, before considering the experience of temporary work during the COVID‐19 crisis and what may be expected in the recovery phase. All of which have important implications for workers, enterprises and economies. The chapter demonstrates that temporary employment has served as a buffer against the shock caused by the pandemic, as it has done in previous crises. Employers have scaled back the use of temporary workers, causing significant gross job loss among this category of workers. At the same time, many permanent employees who lost their jobs have found new opportunities in temporary employment. The net effect is that the share of temporary workers among all employees has remained fairly constant in countries with available annual data, concealing the significant labour market churn.","PeriodicalId":339010,"journal":{"name":"World Employment and Social Outlook","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121820372","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"2 Employment and social trends by region","authors":"Souleima Al Achkar","doi":"10.1002/wow3.179","DOIUrl":"https://doi.org/10.1002/wow3.179","url":null,"abstract":"","PeriodicalId":339010,"journal":{"name":"World Employment and Social Outlook","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133530070","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Appendices","authors":"","doi":"10.1002/wow3.173","DOIUrl":"https://doi.org/10.1002/wow3.173","url":null,"abstract":"","PeriodicalId":339010,"journal":{"name":"World Employment and Social Outlook","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133067583","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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