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  • ILO and OECD present updated data on the G20 labour markets

ILO and OECD present updated data on the G20 labour markets

A news conference was held at RIA Novosti on July 17 on the occasion of the presentation by the International Labour Organization (ILO) and the Organization for Economic Co-operation and Development (OECD) of their joint paper, Short-term labour market outlook and key challenges in the G20 countries. The news conference was attended by the ILO Director-General Guy Ryder and the OECD Secretary-General Angel Gurria.

Updated statistics will be discussed at the G20 Labour Ministers Meeting and the Joint G20 Finance and Labour Ministers Meeting, to be held in Moscow on July 18-19. The Ministers will also review the findings of the second joint report by the ILO and the OECD, "Addressing employment, labour market and social protection challenges in the G20 countries: Key measures since 2010".

According to the ILO Director-General, each G20 country is facing the problem of unemployment, and this situation has remained unchanged in the past five years following the onset of the global crisis. In this context, the ILO, the World Bank, the OECD and other international organizations declare that collective action is required in order to resolve this problem.

As is known, the G20 is implementing measures to generate new jobs, but according to the ILO, these activities need to be expanded given the scale of the problem and the urgency of the task. "We must do this also in order to be able to achieve sustainable economic growth, which is one of the key objectives of the G20," Guy Ryder said.

The ILO Director-General also noted that the upcoming 4th G20 Labour Ministers Meeting and the 1st Joint G20 Finance and Labour Ministers Meeting offered an opportunity for decisive action. "We believe that this opportunity will be further promoted in Moscow this week," he said.

The OECD Secretary-General Angel Gurria supported the ideas shared by Mr. Ryder, noting that the upcoming events should focus on the employment issues.

"Today, we are faced with tough challenges in the area of job creation. As was noted by the previous speaker, this process is fairly slow in the majority of the G20 countries," Angel Gurria said. According to Mr. Gurria, the governments should focus their policies more on developing the labour market and promoting employment: "Our assessment of the previous policy measures shows that more work is needed in this area, and it has to be done if we want to return to a period of growth."

The OECD Secretary-General also stressed that it was hardly possible to restore the level of employment without stimulating growth and achieving the goals of economic growth: "Yes, we tried all monetary and fiscal policies, and there is very little left that we can do in this area. But we have structural measures, competition, health care, taxation, education, financial infrastructure, regulation and deregulation, and streamlining - all of these measures can not only help us to restore economic growth, but also stimulate it for the medium and longer term."

According to Mr. Gurria, the world needs a policy that can bring flexibility to the labour market: it is vital not only to simplify hiring and firing procedures, but also to encourage vocational training, labour mobility and employability.

"These are our recommendations," Angel Gurria said in conclusion. "We are saying that there are ways and means of improving the situation despite all the challenges we are facing."

More information about the joint ILO-OECD reports you can find here