Low Wage Growth, High Long-Term Unemployment Recognized as International Problem

Posted on September 10, 2014 by Yves Smith

When the OECD, World Bank, and the International Labor Organization agree on something, it’s a sign something serious is afoot. In this case, the three groups have issued a joint paper, G20 labour markets: outlook, key challenges and policy responses, which despite the anodyne title, gives a grim account of the prospects for workers in major economies.

The general outline of findings won’t come as much of a surprise to the cognoscenti. What is novel is having such authoritative bodies state in such an unvarnished manner how bad things are.