How do you measure unemployment? By counting the number of people looking for work but unable to find it. However, this measure overlooks people willing to work and not necessarily looking for jobs. In an interesting chart, The Economist illustrates how a broader measure makes unemployment in Europe look even worse.
A month ago, the latest World Development Report 2013: Jobs called for moving “jobs center stage,” as they are the cornerstone of development. In its official comment reacting to the WDR, the ILO has endorsed the report’s main thrust and welcomed it as an important contribution to a better understanding of the role of jobs and livelihoods in the development process. Read the full comments here.
India has seen rapid economic growth since early 1990s, with many focusing on the modest resurgence of Indian manufacturing as a key driver. But, what has fuelled this resurgence? Policy reforms in manufacturing industries? According to recent World Bank research on India and other countries, one of the key factors driving the turnaround has been sector. Read the op ed by Beata Smarzynska Javorcik and Aaditya Mattoo, which appeared in The Indian Express. Also, click here to read the related policy research working paper.
At a recent presentation at Duke University’s Center for International Development, David Rosenblatt, Economic Advisor in the Bank’s Development Economics Vice Presidency, presented on “Shifting patterns of economic growth and rethinking development”. His presentation to students drew primarily from his April 2012 paper co-authored with Justin Yifu Lin. In the paper, Lin and Rosenblatt explain how the forces of globalization and the rise of a multi-polar growth world are compelling multilateral institutions like the Bank to adapt their strategies to improve development outcomes amidst rapid change.
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