Emerging and Developing Economies performing better in employment says ILO’s International Institute for Labour Studies

ACCRA, 4 June, 2013 - A report issued by the International Institute for Labour Studies of the ILO indicate that 'Five years after the global financial crisis, the global employment situation remains uneven, with emerging and developing economies recovering much faster than the majority of advanced economies.'

The World of Work Report 2013 entitle 'Repairing the economic and social fabric' provides a comprehensive analysis of the current state of labour markets and social conditions around the world. It also projects employment trends and assesses the risk of social unrest.

The report noted that income inequalities continue to widen in advanced economies and although they have stabilized somewhat in large emerging and developing countries, they remain acute and progress in this is still fragile.

As the global economy continues a slow recovery from the financial crisis, most emerging and developing countries are experiencing rising employment and narrowing income inequalities compared to their high-income counterparts.

The Report was quick to note however that, the gap between rich and poor in most low and middle-income countries remains wide and several families who have managed to rise above the poverty line are at risk of lapsing back.

By contrast, income inequalities have increased in advanced economies over the past two years, against the backdrop of increasing global unemployment - predicted to rise from the current 200 million to nearly 208 million by 2015.

The Executive Summary of the Report is available at:

http://www.ilo.org/global/research/global-reports/world-of-work/2013/WCMS_214673/lang--en/index.htm