By Funmi Komolafe
LAGOS — The International Labour Organisation (ILO) has expressed concern that the economic growth recorded in many countries has not translated to creation of job opportunities and reduction of poverty level.
Even as it suggested that increases in wages could lead to increased demand and an eventual boost in the economy.
The ILO in a statement by its Director-General, Mr. Guy Ryder said: “Boosting demand for goods and services would go a long way towards creating the incentive required for companies to expand and create jobs.”
It noted that globally, there is a “potentially dangerous gap between profits and people.”
Mr. Guy Rider observed “in most countries, workers have been getting a smaller share of national income and of gains in productivity, while more of the income is going into profit, and we have a major problem.”
He suggested: “We need to focus on the productive economy and make a firm commitment to investing in people, skills and jobs and reducing economic disparity.”