| Global Employment Trends January 2010 |
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Type of document
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report
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The collapse of an American investment bank on 15 September 2008 triggered a paralysis in the global financial system that transitioned into a global economic and jobs crisis that plagued the world through 2009. The crisis spread rapidly across the globe, crippling economies, reducing enterprise capacities, and forcing millions of people out of work. In addition, many workers have fallen into more vulnerable forms of employment which in turn has worsened decent work deficits, precarious employment situations have swollen and the ranks of the working poor have increased.
Accurately monitoring the impact of the crisis in many developing economies is a challenge in view of the void of up-to-date and reliable labour market information. At the same time, gathering and disseminating information on policy responses and analysing labour market impacts and employment trends is essential to inform the policy options that are part of the Global Jobs Pact. Information and analysis enables countries to adapt or extend their policies in order to achieve full and productive employment and decent work.
This issue of Global Employment Trends is the fifth analysis of the impact of the crisis since January 2009 that is made in this series. Data are still limited for many countries and as more information becomes available it will be important to review the scale and pace of trends. Section II of this report provides an overview of the global economic and labour market impacts of the crisis as reflected in economic growth and labour market indicators up to and including 2009, with special attention on more vulnerable groups such as women and youth. The global overview sets the context in which regions and countries have responded to the economic crisis. Regional experiences are presented in section III, and this section also includes a snapshot of the impact of the crisis on the labour markets in selected economies. Section IV concludes and highlights policy issues and interventions related to mitigating adverse impacts of the crisis and supporting recovery.
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Publisher
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ILO
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