New ILO-World Bank study suggests tools to tide over economic shocks

April 21, 2012 (LBO) – Policymakers across the world should to develop a more robust labour market and expand workers social insurance cover, to tide over future economic shocks, a new report said. With a sample of 77 countries significantly affected by the crisis, representing 89 percent of global GDP and 86 percent of world labour force, the database allows for cross-country comparisons on a large scale, the report said.

For the first time, policymakers now have access to data on what other countries did during these turbulent times, in order to better understand what works best to create jobs and reduce poverty in the wake of crises, said Tamar Manuelyan Atinc, World Bank Vice President for Human Development.

The large country sample enables derivation of policy comparisons across a large and diverse set of economic, social, and policy settings.

Policy makers and researchers worldwide will be able to use this database to analyse policies and draw further lessons which continue to be highly relevant today as the jobs crisis persists.said Jose Manuel Salazar-Xirinachs, International Labour Organisation Executive Director for Employment.

The report recommends that cou