International Monetary Fund Underscores the Importance of Jobs for Macroeconomic Stability
The International Monetary Fund that once sidelined jobs as a domestic, social issue – focusing on Gross Domestic Product, debt and fiscal rebalancing – now recognizes that employment is among the most important macroeconomic indicators. This is a promising step for the world’s leading financial institution to take – one that organizations such as the JustJobs Network have been advocating since the onset of the financial crisis.
The International Jobs Report, released on Wednesday by the IMF and EIU, comes with a comforting headline: global unemployment has returned to its pre-crisis level, falling to 5.6 percent in 2014. But it is “too soon to declare victory” cautions the IMF’s Prakash Loungani.
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