An interesting report came into my email box this morning from the good folks at the International Labor Organization.

The World of Work Report is an annual study by the ILO Institute, which provides an assessment of the current state of labour markets. Among its findings:

 

Based on the latest IMF growth estimates, the report calculates that employment in high GDP per-capita countries may not return to pre-crisis levels before 2013, unless more decisive measures are taken to stimulate job creation. In emerging and developing countries, employment levels could start recovering from 2010, but may not reach pre-crisis levels before 2011.

Two-thirds of the countries for which data are available do not have regular unemployment benefits. Only one third of developing countries have provisions pertaining to informal workers or the self-employed.  

In addition to unemployment, millions of workers have been "retained" by enterprises with support from governments despite falling activity. These workers are now on shorter hours, partial unemployment or involuntary part time.

An estimated 5 million workers are at risk of losing their jobs in the 51 countries analysed if governments withdraw their support, or the economic rebound isn’t strong enough.

Experience from earlier crises suggests that this risk is especially acute for the low-skilled and older workers. New entrants, including youth and women, face major difficulties obtaining employment, and they face the prospect of dropping out of the labour market or losing skills.

In developing countries, high-quality jobs have been lost and affected workers are likely to move into the informal economy.   

 

   This tracks with other information I’ve been digesting–and it argues for MORE government action, not less.