ADB Suggests Asian Economies to Create High Quality Employment Opportunities
Submitted by Gurpreet Singh on Tue, 08/23/2011 - 06:25
The Asian Development Bank (ADB) has suggested the developing Asian economies to create more high quality employment opportunities in order to maintain the economic expansion it has witnessed in the past 20 years.
ADB Chief Economist Changyong Rhee stated that Asia has surpassed other regions in the growth and development sector. Since the year 1990, a significant growth has been seen, however, still it has a vast number of poor population.
He said, "I don't want to downplay the importance of economic growth, but on the quality job front, progress has been less impressive".
According to Rhee, around two-thirds of workers in developing Asia were given jobs in the informal sector in 2008 which does not portray any significant change since 1990.
In India, the ratio of informal workers has increased to 82% of the total workforce which was 80% during the time period between 1991 and 2008.
In Thailand, the informal percentage of workers have reduced by 54% in 2008 whereas it was 70% in 1990, and in Malaysia, a drop of 9 % was witnessed in 2008, as it was 31% during 1990.
The bank has suggested that the low-income Asian countries should help the workers to move from rural areas to urban areas by providing them higher-paying jobs, and also, the rural non-farm sector should be encouraged in order to increase the productivity.
