labels: economy - general
Asian economic growth not reflected in employment: ILO news
25 January 2007

The International Labour Organisation (ILO) says despite economic growth of 8.0 per cent in East Asia last year, the highest in the world, unemployment rose 0.1 per cent to 3.6 per cent.

However, the ILO also found that poverty in East Asia had decreased, while unemployment in South East Asia was steadying after a gradual decline since the 1997-1998 financial crisis.

ILO's Global Employment Trends, "Low and stable unemployment rates, moderate population growth and positive growth prospects in the near-term make it likely that labour markets (in East Asia) will remain stable in 2007."

The number of East Asian workers whose families were living on less than two dollars a day fell from 61.9 per cent in 1996 to 44.2 per cent last year, below the global average of 47.4 per cent.


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Asian economic growth not reflected in employment: ILO