Oslo was the scene this week of a remarkable event that brought together global leaders from government, business, trade unions, and academia to discuss what many of them said is the biggest issue facing the world today: the jobs crisis.
They spoke of the 210 million people currently out of work worldwide—the highest level of official unemployment in history. They spoke of the human impact in terms of persistent loss of earnings, reduced life expectancy, and lower educational achievement for the children of the unemployed. And they spoke of a potentially “lost generation” of young people whose unemployment rates are much higher than for older groups.
Fortunately, they also spoke of what can be done to save this lost generation.
The Oslo Conference—hosted by Prime Minister Jens Stoltenberg of Norway and co-sponsored by the International Labor Organization (ILO) and the International Monetary Fund (IMF)—the first such joint endeavor in 66 years—attracted extraordinary participation. Continue reading
Filed under: Economic Crisis, Employment, growth, IMF, International Monetary Fund, Multilateral Cooperation | Tagged: cooperation, employment, global economic crisis, global financial crisis, job-creating growth, jobs, jobs recovery, labor markets, long-term unemployment, Oslo conference, sustainable macroeconomic framework, sustainable recovery, unemployment, youth unemployment | 6 Comments »