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: In order to assess the social impact of globalisation it is essential to go beyond economic performance and examine what happened to employment, income inequality and poverty over the past two decades of globalisation.
For the world as a whole, latest ILO estimates show that open unemployment has increased over the last decade to about 188 million in 2003. However, employment performance over the past two decades has varied across regions.
It is also noticeable that within the developing world, unemployment rates have increased since 1990 in Latin America and the Caribbean and South-East Asia, and since 1995 in East Asia. One factor behind the rise in unemployment in these regions was the financial crisis at the end of the 1990s. For example, in some major countries affected by crises, unemployment rates did decline after the crisis, but in many cases not to the pre-crisis level.
The share of self-employment, which for most developing regions is a proxy indicator for the size of the informal economy, increased in all developing regions, except for East and South-East Asia. Direct data on employment in the informal economy are not readily available. Such an increase is typically linked to stagnation or slow growth in modern sector employment and the consequent increase in labour absorption in the informal economy.
| The share of self-employment, which for most developing regions is a proxy indicator for the size of the informal economy, increased in all developing regions, except for East and South-East Asia. ...Such an increase is typically linked to stagnation or slow growth ...
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