Globalisation and Employment: A Prelude

Rajarshi Majumder

MPRA Paper from University Library of Munich, Germany

Abstract: Globalisation has proceeded at an unimagined pace in the last few decades. While it has resulted in high growth of global income, questions are raised about the equity of such growth. Disparity seems to be aggravating, as globalisation seems to be depressing the labour market. Unemployment is rising, both absolutely and as proportion of labour force, especially in developing regions. Elasticity of employment is low and falling further. Whatever little employment expansion is occurring is mostly vulnerable in nature, remuneration levels are scanty, and working poverty is substantially high. Using a Globalisation Index, it is observed that except the developed countries, pace and levels of globalisation are affecting the labour market negatively. Employment growth and elasticities are lower in regions that have had rapid globalisation. Institutional mechanism and improving social security for workers must therefore precede global integration of the economy.

Keywords: Globalisation; Labour; Employment; Unemployment; Wages; Working Poverty (search for similar items in EconPapers)
JEL-codes: F02 J21 J30 J60 (search for similar items in EconPapers)
Date: 2008-12
New Economics Papers: this item is included in nep-lab
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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