World of work report 2011: Making markets work for jobs

The global economic outlook has deteriorated significantly since 2010. The latest indicators suggest that employment growth has already begun to slow. This is the case in nearly two-thirds of advanced economies and half of the emerging and developing economies for which recent information exists. The Report shows that almost 80 million jobs need to be created over the next two years to reach pre-crisis employment rates. But the recent slowdown in economic activity suggests that the world economy is likely to only create half the number of jobs needed. As a result, on current trends, employment in advanced economies will not return to the pre-crisis situation before 2016, which is one year later than predicted in World of Work Report 2010