Economic recovery and labour market adjustment in developing Asia

Abstract

Chapter 2, “Economic recovery and labour market adjustment in developing Asia”, provides an overview of the impact of the financial crisis on the economy and the labour market in the region. It reviews policy development in three areas critical to long-term growth and social progress: fiscal support to economic recovery, the range and coverage of social protection and trade orientation. The chapter also examines the scope for employment, labour market and social policies in the aftermath of the global financial and economic crisis, suggesting that if industrial and competitiveness strategies were the overriding concern in the prior decades of sustained export-driven growth, employment and labour market concerns are now at the forefront.