Countries Investing In High Quality Jobs Can Make Economic Leaps

GENEVA, CH

Countries that invested the most in quality jobs from the early 2000s grew nearly one percentage point faster every year since 2007 than other developing and emerging economies, according to a new International Labour Organization (ILO) report. This helped cushion the impact of the global crisis that erupted in 2008. The ILO is a United Nations agency dealing with labour issues, particularly international labour standards and decent work for all. To date, 185 of the 193 UN member states are members of the ILO.

The World of Work 2014: Developing with Jobs report, which provides an in-depth analysis for 140 developing and emerging nations, shows for the first time that investing in quality jobs, reducing vulnerable employment and tackling working poverty leads to higher economic growth.

“Development doesn’t happen through such things as exports, open trade and foreign direct investment on their own,” said Guy Ryder, Director-General of the ILO. “Social protection, respect for core labour standards and policies that promote formal employment are also crucial for creating quality jobs that raise living standards, increase domestic consumption and drive overall growth. Decent work opportunities for women and men help trigger development and reduce poverty.”