Weak employment creation detracts from region's high economic growth rates
06 May '06
1 min read
With at least 500 million unemployed or underemployed in Asia, the region's economies urgently need to put in place growth-oriented policies that generate employment on a massive scale, participants at a seminar heard yesterday.
Development and business experts at an ADB seminar on Labor Market Strategies for Inclusive Growth presented different perspectives on what was driving patterns of employment and wage growth in Asian economies and what types of policies were needed.
One area in which much reform was needed, according to Anant, was in collective bargaining. Various aspects of India's current regulations worked against the development of a healthy system of collective bargaining.
Moving away from dictating outcomes to firms, India's labor regulations should be reformed in the direction of putting in place appropriate processes to ensure meaningful collective bargaining.
This would be better for both workers and firms. Anant also noted that: “Labour is both an input into production as well as a constituent of society. Recognizing this dichotomy and its implied tradeoffs is at the heart of successful Governance.”
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
