Employment-Related Mitigation Measures in ECA Countries
There are growing constraints on public finances in many countries due to the actual and projected build-up of public debt, which limits the scope of labor market interventions. Only a few Europe and Central Asia (ECA) countries (most notably Eston...
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| Format: | Brief |
| Language: | English |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2010/02/11857140/employment-related-mitigation-measures-eca-countries http://hdl.handle.net/10986/10209 |
| Summary: | There are growing constraints on public
finances in many countries due to the actual and projected
build-up of public debt, which limits the scope of labor
market interventions. Only a few Europe and Central Asia
(ECA) countries (most notably Estonia, Kazakhstan and
Russia) had set aside resources that can now be used to
cushion an externally driven economic slowdown. Currently,
the labor market situation in many ECA countries can be
characterized as lack of demand for labor. Overall, in 27
ECA countries for which data are available for June 2008 to
June 2009, registered unemployment increased from 8.460
million to 11.354 million, or around 34 percent. The number
of registered unemployed increased the most in three Baltic
States, Turkey and Moldova. Nevertheless, most governments
in ECA have responded to the global economic crisis by
making additional resources available for labor market and
social policies, and with discretionary policy measures to
cushion the negative effects of the crisis on workers and
low-income households. Spending on unemployment benefits has
increased automatically as job losses have mounted, and many
governments have moved promptly to scale-up resources for
active labor market programs. |
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