World of Work Report 2011: Making Markets Work for Jobs

The "World of Work Report 2011" shows that it will not be possible to recover successfully from the Great Recession unless social inequalities are addressed through well-designed policies. Growing youth unemployment, income inequalities made worse as a result of rising food and oil prices, and other social inequities undermine support for pro-growth policies. They also entail a risk of social unrest which has started to materialize in the Arab region, some Asian countries and the Euro area. And they deprive the world economy from the kind of income growth that is needed in order to ensure sustainable economic recovery.

The report presents two scenarios for the next five years: under business-as-usual, the world economy will remain unstable, undermining employment prospects; by contrast, a strategy which addresses social inequalities adequately will support employment and sustain economic growth. Such a strategy is complex and faces implementation hurdles as some groups resist change; the report shows, however, that it can be achieved.