Employment policies in East Asia Pacific countries favor men in salaried positions while failing to help women, young people and low-skilled workers, the World Bank said in a new report on labor in the region.
Policy makers are failing to protect protect and educate their working populations at a time when aging populations are putting a greater strain on resources. Failure to act now could hurt economic growth, the World Bank said.
“Business as usual is not an option,” said Bert Hofman, chief economist for the World Bank’s East Asia and Pacific Region. “The consequences of not taking more action to ensure welfare gains from work will increasingly threaten social cohesion and, as growth moderates, will constrain productivity and limit gains in living standards.”
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