World of Work Report 2012

Book excerpt: The World of Work Report provides a comprehensive analysis of recent labor market and social trends, assesses risks of social unrest, and presents employment projections for the next five years. The report addresses the following questions: - To what extent has the slow recovery aggravated social conditions, including falling incomes, deepening poverty, and worsening inequality? - Have countries gone too far, too fast with fiscal consolidation? How should they support recovery while meeting fiscal goals in the medium term? - What can be expected from recent labor market reforms? - How can investment be boosted so as to ensure a long-lasting recovery in both the economy and jobs? - What have been the barriers to implementing a more job-centered and equity-enhancing policy approach? Why has the business-as-usual scenario maintained its centrality despite the increasing risk of social unrest? The report calls for a policy approach that takes into consideration the urgent need to create quality jobs and also lays the ground for a more productive, fairer economy and labor market.