Lao PDR : Building an Economy That Works Again

Lao PDR is currently facing the phenomenon of jobless growth. This trend started in the early 2010s when non-farm job creation stagnated despite rapid growth in gross domestic product (GDP). The labor market suffered from weak activity in the priva...

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Bibliographic Details
Main Author:	World Bank
Format:	Report
Language:	English
Published:	World Bank, Washington, DC 2021
Subjects:	JOB CREATION ECONOMIC STAGNATION UNEMPLOYMENT INCLUSIVE GROWTH LABOR SKILLS DEVELOPMENT TECHNICAL AND VOCATIONAL EDUCATION AND TRAINING PUBLIC SECTOR EMPLOYMENT LABOR MARKET
Online Access:	http://documents.worldbank.org/curated/en/719671623661599215/Lao-PDR-Building-an-Economy-That-Works-Again http://hdl.handle.net/10986/35794

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spelling	okr-10986-357942021-06-23T05:11:31Z Lao PDR : Building an Economy That Works Again World Bank JOB CREATION ECONOMIC STAGNATION UNEMPLOYMENT INCLUSIVE GROWTH LABOR SKILLS DEVELOPMENT TECHNICAL AND VOCATIONAL EDUCATION AND TRAINING PUBLIC SECTOR EMPLOYMENT LABOR MARKET Lao PDR is currently facing the phenomenon of jobless growth. This trend started in the early 2010s when non-farm job creation stagnated despite rapid growth in gross domestic product (GDP). The labor market suffered from weak activity in the private sector, with all sectors apart from hospitality losing jobs. Jobless growth has prevented the Lao PDR economy from reaping its demographic dividend. Reversing the decline in job creation is essential for fostering inclusive growth in Lao PDR. Promoting inclusive growth requires both facilitating higher participation in the workforce along with continued investments in skills, as well as a greater creation of productive and rewarding jobs. This note explores the factors associated with jobless growth in Lao PDR: deteriorating private sector conditions as well as skills and spatial mismatch in employment. The structure of the note is as follows. Section 2 discusses the impact of the deterioration in private sector conditions on job creation and the constraints that have caused firms to downsize or exit the market; Section 3 explores the impact of job loss on workers of different skill levels, and in causing skills mismatch in the labor market; Section 4 examines the geography of jobs and the spatial dimension of employment; and Section 5 concludes with policy recommendations, proposing measures to revive the private sector and restart the engine of job creation, as well as to reduce inter-regional disparities by better matching jobs to workers. 2021-06-22T13:14:46Z 2021-06-22T13:14:46Z 2021-05 Report http://documents.worldbank.org/curated/en/719671623661599215/Lao-PDR-Building-an-Economy-That-Works-Again http://hdl.handle.net/10986/35794 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Other Social Protection Study East Asia and Pacific Lao People's Democratic Republic
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	JOB CREATION ECONOMIC STAGNATION UNEMPLOYMENT INCLUSIVE GROWTH LABOR SKILLS DEVELOPMENT TECHNICAL AND VOCATIONAL EDUCATION AND TRAINING PUBLIC SECTOR EMPLOYMENT LABOR MARKET
spellingShingle	JOB CREATION ECONOMIC STAGNATION UNEMPLOYMENT INCLUSIVE GROWTH LABOR SKILLS DEVELOPMENT TECHNICAL AND VOCATIONAL EDUCATION AND TRAINING PUBLIC SECTOR EMPLOYMENT LABOR MARKET World Bank Lao PDR : Building an Economy That Works Again
geographic_facet	East Asia and Pacific Lao People's Democratic Republic
description	Lao PDR is currently facing the phenomenon of jobless growth. This trend started in the early 2010s when non-farm job creation stagnated despite rapid growth in gross domestic product (GDP). The labor market suffered from weak activity in the private sector, with all sectors apart from hospitality losing jobs. Jobless growth has prevented the Lao PDR economy from reaping its demographic dividend. Reversing the decline in job creation is essential for fostering inclusive growth in Lao PDR. Promoting inclusive growth requires both facilitating higher participation in the workforce along with continued investments in skills, as well as a greater creation of productive and rewarding jobs. This note explores the factors associated with jobless growth in Lao PDR: deteriorating private sector conditions as well as skills and spatial mismatch in employment. The structure of the note is as follows. Section 2 discusses the impact of the deterioration in private sector conditions on job creation and the constraints that have caused firms to downsize or exit the market; Section 3 explores the impact of job loss on workers of different skill levels, and in causing skills mismatch in the labor market; Section 4 examines the geography of jobs and the spatial dimension of employment; and Section 5 concludes with policy recommendations, proposing measures to revive the private sector and restart the engine of job creation, as well as to reduce inter-regional disparities by better matching jobs to workers.
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Lao PDR : Building an Economy That Works Again
title_short	Lao PDR : Building an Economy That Works Again
title_full	Lao PDR : Building an Economy That Works Again
title_fullStr	Lao PDR : Building an Economy That Works Again
title_full_unstemmed	Lao PDR : Building an Economy That Works Again
title_sort	lao pdr : building an economy that works again
publisher	World Bank, Washington, DC
publishDate	2021
url	http://documents.worldbank.org/curated/en/719671623661599215/Lao-PDR-Building-an-Economy-That-Works-Again http://hdl.handle.net/10986/35794
_version_	1764483790185431040

Lao PDR : Building an Economy That Works Again

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