The 2011 World of Work Report 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 European Union. And they deprive the world economy of the kind of income growth that is needed to ensure sustainable economic recovery.
This book 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. This report shows, however, that it can be achieved.