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Does Growth Create Jobs in the G-20 Economies?

Author

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  • Prakash Loungani
  • Saurabh Mishra

Abstract

There is a striking variation among the G-20 countries in the extent to which employment and unemployment respond to growth over the course of a year. In some countries (for example, Australia, Korea and South Africa), labor markets are quite responsive to overall economic conditions: when growth picks up, so does employment, and unemployment falls. In other countries (for example, Brazil, China, Turkey) the response is quite muted: measured employment and unemployment barely budge when growth picks up or slows down. These differences among countries have not changed much since the Great Recession. Thus, a pick-up in growth will result in more jobs, but the extent of job crea-tion in the short run could vary significantly across countries.

Suggested Citation

  • Prakash Loungani & Saurabh Mishra, 2015. "Does Growth Create Jobs in the G-20 Economies?," Policy notes & Policy briefs 1521, Policy Center for the New South.
    • Handle: RePEc:ocp:ppaper:pb-15/22
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    File URL: http://www.policycenter.ma/sites/default/files/OCPPCPB-1522v3.pdf
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    More about this item

    Keywords

    G20; Growth; employment; unemployment; jobs; labor; market; okun; coefficient; recession; demand;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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