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Labor Market Reforms for Job Creation and Competitiveness. Gordon Betcherman World Bank Black Sea Conference on Regional Integration and Inclusive Growth. Employment rates are generally low in Black Sea countries. Employment rate, 15-64 year olds. Lisbon target. Three messages.

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labor market reforms for job creation and competitiveness

Labor Market Reforms for Job Creation and Competitiveness

Gordon Betcherman

World Bank

Black Sea Conference on Regional Integration and Inclusive Growth

employment rates are generally low in black sea countries
Employment rates are generally low in Black Sea countries

Employment rate, 15-64 year olds

Lisbon

target

three messages
Three messages
  • Job creation involves multi-sectoral reforms
  • Protect workers not jobs
  • Investments in education and skills critical
job creation requires more than labor market reforms
M

I

L

E

S

acroeconomic stability

nvestment climate

abor market reforms

ducation and skills

ocialsafety net

Job creation requires more than labor market reforms

Labor demand

Labor supply

links between lm regulations and institutions and competitiveness
Links between LM regulations and institutions and competitiveness

Policies for labor adjustment

LM regulatory framework

Labor costs

Skills training policies

  • LM flexibility
  • Appropriate cost structure
  • Productive workforce
  • Inclusive labor market

Competitiveness

protecting workers not jobs will lead to better outcomes in the labor market
“Protecting workers, not jobs” will lead to better outcomes in the labor market
  • Current model often protects jobs through strong labor market regulations
    • Reduces flexibility and encourages informality
    • Hinders dynamism and provides limited real protection
  • Reforms to protect workers better address combined challenge of flexibility and protection (flexicurity)
    • Strengthen training and reemployment programs
    • Provide transitional income support for unemployed workers
    • Regulations to protect workers’ basic rights
how different oecd countries balance protecting jobs vs workers
How different OECD countries balance protecting jobs vs workers

Protect workers

Protecting jobs

modern firms demand higher skills and better education
Modern firms demand higher skills and better education

Percentage of workforce with tertiary education

“Modern” firms

“Traditional” firms

aging will place a premium on education
Aging will place a premium on education

% Population Change, 2000-2025