Figure Watch

The World Employment Report brought out by the International Labour Organisation has tracked the employment trends in the global economy. It says that globalisation is a double edged-sword. While reforms are creating new jobs, competition is forcing corporations to reduce the number of employees. The report concludes that this need not happen.

Increased international competition and pressure on costs need not lead to cutting wages and social benefits. There is 8220;the preferable alternative of taking the high road of raising labour productivity and income through flexible and responsive training systems and greater investment in skill development.8221;