Blog
Matthew Taylor
Like a Russian doll of misery the jobs crisis has layers on layers. We all know about the problems in Britain, with an estimated seven million people who would like full time employment either out of work or working part time. Then today there is a report from the ILO questioning the effectiveness of austerity strategies and predicting widespread social unrest, and showing the number of jobs across the global economy to be still fifty million below the pre credit crunch level. Then looking into the medium term Jim Clifton, head of Gallup, has shown that employment is the single factor most strongly correlated with well-being across the world but has estimated that of the three billion formal jobs for which there is demand the global economy is currently creating only 1.2 billion.