Breaking News

ILO designs fresh strategies to boost employment, social policies

Director General of International Labour Organisation (ILO) Mr Juan Somavia, has said that ILO new research survey report has designed fresh strategies to boost employment and social policies.

Somavia, said this while reviewing the new survey carried out by ILO. He said that the survey would now play a crucial role in boosting job creation and making economic growth more solid and equitable.

He said the survey carried out by ILO from onset of the global financial crisis in 2008 caused massive increases in unemployment, and pushed millions of workers into vulnerable employment or back into poverty.

“While a job-centered strategy is both desirable and possible, implementing it requires careful tailoring to the needs of each country, for which social dialogue is essential.

“It also calls for coherence with macroeconomic policy settings, notably an efficient financial system”. Somavia said nevertheless, the implementation of well-designed employment and social policies by a number of countries paved the way for a sustainable recovery.

He said such policies were central to putting a floor to the global financial crisis in those countries, and kick-starting a recovery.

“As a result, millions of jobs were either saved or created and the impact of the financial crisis on labour markets was far less critical”, he said.  Somavia said that certain employment, social and skill policies are of paramount importance in this regard and financial reform would greatly aid job recovery, according to the report. He said favourable effects would manifest mainly in the medium and  long term.


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.