World of Work Report

World of Work ReportVolume 2014, Issue 1 p. 33-50 EnglishFree Access Employment patterns and their link with economic development Moazam Mahmood, Moazam Mahmood ILO - RESEARCH DEPTSearch for more papers by this authorWoori Lee, Woori Lee ILO - RESEARCH DEPTSearch for more papers by this authorMariano Mamertino, Mariano Mamertino ILO - RESEARCH DEPTSearch for more papers by this authorEkkehard Ernst, Ekkehard Ernst ILO - RESEARCH DEPTSearch for more papers by this authorChristian Viegelahn, Christian Viegelahn ILO - RESEARCH DEPTSearch for more papers by this authorEvangelia Bourmpoula, Evangelia Bourmpoula ILO - RESEARCH DEPTSearch for more papers by this authorMarina Giovanzana, Marina Giovanzana ILO - RESEARCH DEPTSearch for more papers by this author Moazam Mahmood, Moazam Mahmood ILO - RESEARCH DEPTSearch for more papers by this authorWoori Lee, Woori Lee ILO - RESEARCH DEPTSearch for more papers by this authorMariano Mamertino, Mariano Mamertino ILO - RESEARCH DEPTSearch for more papers by this authorEkkehard Ernst, Ekkehard Ernst ILO - RESEARCH DEPTSearch for more papers by this authorChristian Viegelahn, Christian Viegelahn ILO - RESEARCH DEPTSearch for more papers by this authorEvangelia Bourmpoula, Evangelia Bourmpoula ILO - RESEARCH DEPTSearch for more papers by this authorMarina Giovanzana, Marina Giovanzana ILO - RESEARCH DEPTSearch for more papers by this author First published: 23 December 2014 https://doi.org/10.1002/wow3.45Citations: 1AboutSectionsPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat References International Labour Organization (ILO). 1972. Employment, incomes and equality: A strategy for increasing productive employment in Kenya, Research Paper (Geneva). International Labour Organization (ILO). 2002. Women and men in the informal economy: A statistical picture ( Geneva). International Labour Organization (ILO). 2011. Growth, employment and decent work in the least developed countries, Report of the International Labour Office for the Fourth UN Conference on the Least Developed Countries, 9–13 May 2011, Turkey (Geneva). International Labour Organization (ILO). 2012. Global Employment Trends for Women ( Geneva). International Labour Organization (ILO). 2013. Key Indicators of the Labour Market, 8th edition ( Geneva). International Labour Organization (ILO). 2014. Global Employment Trends 2014 ( Geneva). ILO and WTO. 2009. Globalization and informal jobs in developing countries, M. Bacchetta, E. Ernst and J. Bustamente (Eds.) ( Geneva: ILO). Kapsos, S.; Bourmpoula, E. 2013. Employment and economic class in the developing world, ILO Research Paper No. 6 ( Geneva, ILO). Lewis, W.A. 1955. The theory of economic growth ( London, Allen and Unwin). Majid, N. 2001. The size of the working poor population in developing countries, International Labour Organisation, Employment Paper 16 ( Geneva). United Nations (UN). 2012. World Population Prospects, the 2012 revision. World Bank. 2013. World Development Indicators ( Washington, DC). Citing Literature Volume2014, Issue1May 2014Pages 33-50 ReferencesRelatedInformation

This chapter seeks to contribute to a better understanding of the incentives behind migration and its effects on economic growth and development for both sending and receiving countries. It provides an overview of the current state of migration across the globe, including stocks and flows of migrants and their basic characteristics. Using data covering 68 countries between 1986 and 2007, the results show that migration has a small positive impact on growth in the receiving countries. Furthermore, an econometric exercise based on a database of 165 countries between 1994 and 2010 reveals that remittances have a positive and significant impact on both savings and investments in the migrant sending countries. The chapter concludes with policy considerations for better leveraging migration and remittances for economic growth, development and poverty reduction.

World of Work ReportVolume 2014, Issue 1 p. i-8 EspañolFree Access Resumen ejecutivo - Informe sobre el Trabajo en el Mundo 2014: El desarrollo a través del empleo Raymond Torres, Raymond TorresSearch for more papers by this author Raymond Torres, Raymond TorresSearch for more papers by this author First published: 23 December 2014 https://doi.org/10.1002/wow3.52AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onEmailFacebookTwitterLinkedInRedditWechat Volume2014, Issue1May 2014Pages i-8 RelatedInformation

This chapter provides an overview of global economic and labour market trends, through an analysis of trends in key indicators including GDP growth, employment, unemployment, labour productivity and working poverty, among others. It finds that the growing global jobs gap, characterised by particularly weak employment prospects for young people, is centred mainly in the developed economies, whereas the primary challenge facing many developing countries is widespread low-productivity employment. The chapter provides evidence that growth in wage and salaried employment opportunities is positively associated with increased labour productivity and higher shares of workers attaining a middle class standard of living in the developing world.

World of Work ReportVolume 2014, Issue 1 p. 51-62 EnglishFree Access Decomposing growth patterns: The roles of investment, consumption, government expenditure, exports and education Moazam Mahmood, Moazam Mahmood ILO - RESEARCH DEPTSearch for more papers by this authorWoori Lee, Woori Lee ILO - RESEARCH DEPTSearch for more papers by this authorMariano Mamertino, Mariano Mamertino ILO - RESEARCH DEPTSearch for more papers by this authorCatherine Saget, Catherine Saget ILO - RESEARCH DEPTSearch for more papers by this authorClément Malgouyres, Clément Malgouyres ILO - RESEARCH DEPTSearch for more papers by this authorChristian Viegelahn, Christian Viegelahn ILO - RESEARCH DEPTSearch for more papers by this authorShailaja Fennell, Shailaja Fennell University of CambridgeSearch for more papers by this authorMarina Giovanzana, Marina Giovanzana ILO - RESEARCH DEPTSearch for more papers by this author Moazam Mahmood, Moazam Mahmood ILO - RESEARCH DEPTSearch for more papers by this authorWoori Lee, Woori Lee ILO - RESEARCH DEPTSearch for more papers by this authorMariano Mamertino, Mariano Mamertino ILO - RESEARCH DEPTSearch for more papers by this authorCatherine Saget, Catherine Saget ILO - RESEARCH DEPTSearch for more papers by this authorClément Malgouyres, Clément Malgouyres ILO - RESEARCH DEPTSearch for more papers by this authorChristian Viegelahn, Christian Viegelahn ILO - RESEARCH DEPTSearch for more papers by this authorShailaja Fennell, Shailaja Fennell University of CambridgeSearch for more papers by this authorMarina Giovanzana, Marina Giovanzana ILO - RESEARCH DEPTSearch for more papers by this author First published: 23 December 2014 https://doi.org/10.1002/wow3.46AboutSectionsPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinked InRedditWechat References References Amann, E. 2005. “Brazil's economy under Lula”, in World Economics, Vol. 6, No. 4, pp. 149– 169. Google Scholar African Development Bank (AFDB). 2010. President applauds Cape Verde's graduation to middle income country and MDG achievements despite hostile initial conditions. Available at: http://www.afdb.org/en/news-and-events/article/afdb-president- applauds-cape-verdes-graduation-to-middle-income-country-and-mdg-achievements- despite-hostile-initial-conditions-6655/ [8 May 2014] Google Scholar African Development Bank (AFDB). 2012. Cape Verde: A success story. Available at: http://www.afdb.org/fileadmin/uploads/afdb/Documents/Project-and-Operations/Cape%20Verde%20-%20A%20 Success%20Story.pdf [8 May 2014] Google Scholar African Development Bank. 2013. “Cape Verde” in African Economic Outlook 2013. 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World of Work ReportVolume 2014, Issue 1 p. 63-84 EnglishFree Access Productive transformation, decent work and development Raymond Torres, Raymond Torres ILO - RESEARCH DEPTSearch for more papers by this authorHa-Joon Chang, Ha-Joon Chang University of CambridgeSearch for more papers by this authorAntonio Andreoni, Antonio Andreoni University of CambridgeSearch for more papers by this authorSteven Kapsos, Steven Kapsos ILO - RESEARCH DEPTSearch for more papers by this authorEddy Lee, Eddy Lee ILO - RESEARCH DEPTSearch for more papers by this authorIrmgard Nübler, Irmgard Nübler ILO - RESEARCH DEPTSearch for more papers by this authorMarialaura Fino, Marialaura Fino ILO - RESEARCH DEPTSearch for more papers by this authorMing Leong Kuan, Ming Leong Kuan University of CambridgeSearch for more papers by this authorSophia Latsos, Sophia Latsos ILO - RESEARCH DEPTSearch for more papers by this authorDaniel Sexton, Daniel Sexton ILO - RESEARCH DEPTSearch for more papers by this author Raymond Torres, Raymond Torres ILO - RESEARCH DEPTSearch for more papers by this authorHa-Joon Chang, Ha-Joon Chang University of CambridgeSearch for more papers by this authorAntonio Andreoni, Antonio Andreoni University of CambridgeSearch for more papers by this authorSteven Kapsos, Steven Kapsos ILO - RESEARCH DEPTSearch for more papers by this authorEddy Lee, Eddy Lee ILO - RESEARCH DEPTSearch for more papers by this authorIrmgard Nübler, Irmgard Nübler ILO - RESEARCH DEPTSearch for more papers by this authorMarialaura Fino, Marialaura Fino ILO - RESEARCH DEPTSearch for more papers by this authorMing Leong Kuan, Ming Leong Kuan University of CambridgeSearch for more papers by this authorSophia Latsos, Sophia Latsos ILO - RESEARCH DEPTSearch for more papers by this authorDaniel Sexton, Daniel Sexton ILO - RESEARCH DEPTSearch for more papers by this author First published: 23 December 2014 https://doi.org/10.1002/wow3.47AboutSectionsPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. 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World of Work ReportVolume 2014, Issue 1 p. 149-180 EnglishFree Access Does income distribution matter for development? Trends in labour share of income and their economic impacts in developing countries Matthieu Charpe, Matthieu Charpe ILO - RESEARCH DEPTSearch for more papers by this authorSangheon Lee, Sangheon Lee ILO - RESEARCH DEPTSearch for more papers by this authorDaniela Arias, Daniela Arias ILO - RESEARCH DEPTSearch for more papers by this authorSlim Bridji, Slim Bridji ILO - RESEARCH DEPTSearch for more papers by this author Matthieu Charpe, Matthieu Charpe ILO - RESEARCH DEPTSearch for more papers by this authorSangheon Lee, Sangheon Lee ILO - RESEARCH DEPTSearch for more papers by this authorDaniela Arias, Daniela Arias ILO - RESEARCH DEPTSearch for more papers by this authorSlim Bridji, Slim Bridji ILO - RESEARCH DEPTSearch for more papers by this author First published: 23 December 2014 https://doi.org/10.1002/wow3.50Citations: 4AboutSectionsPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat References Bentolila, S.; Saint-Paul, G. 2003. “Explaining movements in the labor share”, in The B.E. Journal of Macroeconomics, Vol. 3, No. 1, Oct., pp. 1– 33. Banerjee, A.; Duflo, E. 2003. “Inequality and growth: What can the data say?” in Journal of Economic Growth, Vol. 8, No. 3, pp. 267– 299. Barro, R.J. 2008. Inequality and growth revisited, Working Paper Series on Regional Economic Integration No. 11 (Asian Development Bank (ADB)). Berg, J. (ed.). Forthcoming. Labour markets, institutions and inequality: Building just societies in the 21st century ( Cheltenham and Geneva, Edward Elgar and ILO). Charpe, M. 2011. “ The labour share of income: Determinants and potential contribution to exiting the financial crisis”, in World of Work Report 2011: Making markets work for jobs ( Geneva, ILO). Charpe, M; Kühn, S. 2012. Bargaining, aggregate demand and employment, Dynare Working Papers No. 13, (Paris, Center for economic research and its applications (CEPR EMAP)). Charpe, M. 2013. The international spillovers of wage moderation: Is there a beggar-thy-neighbour effect? ( ILO, mimeo). Cripps, F. 2013. Global policy model: Databank update and model extension ( ILO, mimeo). Elder, J.; Kennedy, P. 2001. “Testing for unit roots: What should students be taught?” in Journal of Economic Education, Vol. 32, No. 2, pp. 137– 146. European Commission (EC). 2007. “ The labour share of income in the European Union”, in Employment in Europe 2007, Directorate-General for Employment, Social Affairs and Equal Opportunities ( Brussels), pp. 237– 72. Freeman, R.A. 2011. Accounting for the self-employed in labour share estimates: The case of the United States, OECD Science, Technolog y and Industry Working Papers, No. 04 (Paris, OECD) Publishing. Available at: http://dx.doi. org/10.1787/5kg0w877vlwg-en [1 May 2014]. 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World of Work ReportVolume 2014, Issue 1 p. i-8 ItalianFree Access Sintesi del rapporto-Rapporto sul mondo del lavoro 2014: L'occupazione al centro dello sviluppo Raymond Torres, Raymond TorresSearch for more papers by this author Raymond Torres, Raymond TorresSearch for more papers by this author First published: 23 December 2014 https://doi.org/10.1002/wow3.54AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat Volume2014, Issue1May 2014Pages i-8 RelatedInformation

World of Work ReportVolume 2014, Issue 1 p. i-8 EnglishFree Access Executive Summary-World of Work Report 2014: Developing with Jobs Raymond Torres, Raymond TorresSearch for more papers by this author Raymond Torres, Raymond TorresSearch for more papers by this author First published: 23 December 2014 https://doi.org/10.1002/wow3.42Citations: 28AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinked InRedditWechat Citing Literature Volume2014, Issue1May 2014Pages i-8 RelatedInformation

World of Work ReportVolume 2014, Issue 1 p. i-7 FrançaisFree Access Résumé exécutif - Rapport sur le Travail dans le Monde 2014: Un développement riche en emplois Raymond Torres, Raymond TorresSearch for more papers by this author Raymond Torres, Raymond TorresSearch for more papers by this author First published: 23 December 2014 https://doi.org/10.1002/wow3.53Citations: 1AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinked InRedditWechat Citing Literature Volume2014, Issue1May 2014Pages i-7 RelatedInformation

World of Work ReportVolume 2014, Issue 1 p. 17-32 EnglishFree Access Growth patterns in developing countries Moazam Mahmood, Moazam Mahmood ILO - RESEARCH DEPTSearch for more papers by this authorWoori Lee, Woori Lee ILO - RESEARCH DEPTSearch for more papers by this authorMariano Mamertino, Mariano Mamertino ILO - RESEARCH DEPTSearch for more papers by this authorCatherine Saget, Catherine Saget ILO - RESEARCH DEPTSearch for more papers by this authorClément Malgouyres, Clément Malgouyres ILO - RESEARCH DEPTSearch for more papers by this authorMarina Giovanzana, Marina Giovanzana ILO - RESEARCH DEPTSearch for more papers by this author Moazam Mahmood, Moazam Mahmood ILO - RESEARCH DEPTSearch for more papers by this authorWoori Lee, Woori Lee ILO - RESEARCH DEPTSearch for more papers by this authorMariano Mamertino, Mariano Mamertino ILO - RESEARCH DEPTSearch for more papers by this authorCatherine Saget, Catherine Saget ILO - RESEARCH DEPTSearch for more papers by this authorClément Malgouyres, Clément Malgouyres ILO - RESEARCH DEPTSearch for more papers by this authorMarina Giovanzana, Marina Giovanzana ILO - RESEARCH DEPTSearch for more papers by this author First published: 23 December 2014 https://doi.org/10.1002/wow3.44AboutSectionsPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. 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World of Work ReportVolume 2014, Issue 1 p. 85-108 EnglishFree Access Labour and social protection institutions: Recent trends and impact on development Sangheon Lee, Sangheon Lee ILO - RESEARCH DEPTSearch for more papers by this authorMariya Aleksynska, Mariya Aleksynska ILO - RESEARCH DEPTSearch for more papers by this authorUma Amara Rani, Uma Amara Rani ILO - RESEARCH DEPTSearch for more papers by this authorFlorence Bonnet, Florence Bonnet ILO - RESEARCH DEPTSearch for more papers by this authorColin Fenwick, Colin Fenwick ILO - RESEARCH DEPTSearch for more papers by this authorMark Lansky, Mark Lansky ILO - RESEARCH DEPTSearch for more papers by this authorMario Macis, Mario Macis Johns Hopkins UniversitySearch for more papers by this authorPaola Monti, Paola Monti Fondazione Rodolfo DebenedettiSearch for more papers by this author Sangheon Lee, Sangheon Lee ILO - RESEARCH DEPTSearch for more papers by this authorMariya Aleksynska, Mariya Aleksynska ILO - RESEARCH DEPTSearch for more papers by this authorUma Amara Rani, Uma Amara Rani ILO - RESEARCH DEPTSearch for more papers by this authorFlorence Bonnet, Florence Bonnet ILO - RESEARCH DEPTSearch for more papers by this authorColin Fenwick, Colin Fenwick ILO - RESEARCH DEPTSearch for more papers by this authorMark Lansky, Mark Lansky ILO - RESEARCH DEPTSearch for more papers by this authorMario Macis, Mario Macis Johns Hopkins UniversitySearch for more papers by this authorPaola Monti, Paola Monti Fondazione Rodolfo DebenedettiSearch for more papers by this author First published: 23 December 2014 https://doi.org/10.1002/wow3.48Citations: 3AboutSectionsPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. 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World of Work ReportVolume 2014, Issue 1 p. 109-148 EnglishFree Access Social protection, living standards and economic development: Overview of trends and assessment of policies Florence Bonnet, Florence Bonnet ILO - RESEARCH DEPTSearch for more papers by this authorChristian Viegelahn, Christian Viegelahn ILO - RESEARCH DEPTSearch for more papers by this author Florence Bonnet, Florence Bonnet ILO - RESEARCH DEPTSearch for more papers by this authorChristian Viegelahn, Christian Viegelahn ILO - RESEARCH DEPTSearch for more papers by this author First published: 23 December 2014 https://doi.org/10.1002/wow3.49Citations: 1AboutSectionsPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. 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Google Scholar Citing Literature Volume2014, Issue1May 2014Pages 109-148 ReferencesRelatedInformation

Inequalities have widened over the past two years in most advanced economies - thereby resuming the trend that preceded the onset of the global financial crisis; while the opposite trend is observed in emerging and developing countries. Similarly, the middle income group has been shrinking in the majority of advanced countries over the last decades while this group has significantly expanded in emerging and developing economies. However, a closer look at emerging and developing countries shows that progress remains fragile as poor and vulnerable people still represent the majority of the population.

This chapter presents an overview of the key labour market trends that have been shaping the world of work since the global economic crisis, from both global and regional perspectives. The chapter points to an uneven employment picture, with emerging and developing economies performing better than the majority of advanced economies. Furthermore, the chapter examines several structural dimensions of the current situation, notably long-term joblessness, job quality and the social climate, as measured by the social unrest index.

Minimum wages can be a powerful tool for supporting decent work goals and can be a crucial component to the strengthening of social protection floors and poverty alleviation efforts. This paper argues that effectiveness of minimum wages depends on three aspects: first, on the legal coverage of minimum wage systems; second, the level at which minimum wages are set; and third, the ability to ensure compliance with legal minimum wage provisions, so as to ensure the goal of improving incomes and reducing inequality.

World of Work ReportVolume 2013, Issue 1 p. vii-x EnglishFree Access Editorial: Repairing the economic and social fabric Raymond Torres, Raymond TorresSearch for more papers by this authorInternational Institute for Labour Studies, International Institute for Labour StudiesSearch for more papers by this author Raymond Torres, Raymond TorresSearch for more papers by this authorInternational Institute for Labour Studies, International Institute for Labour StudiesSearch for more papers by this author First published: 05 August 2013 https://doi.org/10.1002/wow3.34Citations: 9AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onEmailFacebookTwitterLinkedInRedditWechat Citing Literature Volume2013, Issue1May 2013Pages vii-x RelatedInformation

This Chapter shows how an approach that balances macroeconomic and employment goals, while at the same time taking social impacts into account, is necessary to achieve a sustainable and inclusive recovery. Moving towards such an approach requires attention to be paid to a number of policy areas, including macroeconomic, labour market and social protection policies. In addition, this Chapter highlights a wide range of recent initiatives that have made an effort to achieve this kind of rebalancing.

This chapter presents an overview of the key labour market trends that have been shaping the world of work since the global economic crisis, from both global and regional perspectives. The chapter points to an uneven employment picture, with emerging and developing economies performing better than the majority of advanced economies. Furthermore, the chapter examines several structural dimensions of the current situation, notably long-term joblessness, job quality and the social climate, as measured by the social unrest index.

AbstractThe chapter analyses global investment trends before and after the economic crisis of 2008 ‐ 2010 and investigates the relationship between employment and real investment. A focus is laid upon the impact of uncertainty on investment activity and employment outcomes. The chapter finds that investors’ perception of uncertainty has been increasing over the last decades and so has the volatility of real investment for many advanced countries. Using a vector autoregression, the impact of increasing uncertainty on investment and employment is quantified and shows that significant gains in terms of investment and employment could be achieved if economic uncertainty could be reduced. In response to the uncertain environment many firms have been significantly increasing their cash holdings and continue to hold back large investments.