A newly released U.N. report warns the world of a “gloomy” employment trend in 2013 and suggests that governments take immediate action.
Developing countries may be facing a triple whammy: Not only may they lack the policies needed to tackle joblessness, but they may also bear the brunt of cuts made by the private sector and donor nations, many of which are contemplating foreign aid cuts.
Address uncertainty by providing more coherent policy plans and measures to increase disposable income, implement financial reforms to restore the banking sector, provide credit to small and medium-size enterprises and reschedule sovereign debts.
Work together to stimulate global demand and create jobs, adapt the pace of fiscal consolidation to the strength of the economy, consider short-term stimulus to reduce debt over the long run, and coordinate policy actions to rebalance growth and forster multipolar growth engines.
Tackle labor market mismatch and promote structural change by supporting skills and retraining activities, reactivation and job counselling, and by accelerating productivity and diversifying work and investment opportunities in rural areas.
Increase efforts to promote youth employment by enhancing young people’s employability, improving the links between education and employment, increasing the youth’s access to career opportunities, encouraging youth entrepreneurship and promoting labor standards and the rights of young people.
While the proposed plan of actions are meant for policymakers, development cooperation can play a part in building the capacity needed to make those changes, and foster an environment that is conducive for new investments and the creation of jobs.
Adrienne Valdez is a staff writer for Devex, covering breaking international development news for the Development Newswire. Before joining Devex, Adrienne worked as a news correspondent for a public-sector modernization publication.
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