Since the global financial crisis started in 2007, some 30 to 35 million jobs have been lost worldwide and the ILO is forecasting that global unemployment will reach 213 million this year – and that more social unrest could result.
It recommends three policies for jobs-led recovery:
1. Active labour market policies (including work sharing) that target vulnerable groups such as youth, and training.
2. A closer link between wages and productivity gains to boost demand and job creation.
3. Financial sector reform to ensure savings are channelled to productive investment and the creation of more stable jobs.
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