Summit of G20 Finance and Labour and Employment Ministers

On 4 September 2015 a joint agency report, entitled G20 labour markets 2015: Strengthening the link between growth and employment, prepared for the G20 meetings. This report was created by the International Labour Organization (ILO), Organization for Economic Co-operation and Development (OECD) and the World Bank Group (WBG).

According to the report, the growth among G20 economies has averaged 3.2% over the last three years compared to 4.1% from 2000 to 2007. Wage growth has suffered a significant slowdown. According to the report, the main reason for slow and disappointing job creation is not a decline in the employment intensity of economic growth, but rather that economic growth itself is too weak to create sufficient jobs.

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Source & Copyright: ILO