Balancing act: jobs and wages in the Middle East and North Africa when crises hit
Covid-19. The Russian invasion of Ukraine. Commodity price volatility. The rise of global inflation and interest rates. Currency depreciations among indebted middle-income economies. And now, natural disasters. As a sequence of events, the consequences can be both tragic and long-lasting. After anal...
Gespeichert in:
| Hauptverfasser: | , , , , , , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2023
|
| Schriftenreihe: | Middle East and North Africa Economic Update
MENA economic update October 2023 |
| Online-Zugang: | Volltext Volltext |
| Zusammenfassung: | Covid-19. The Russian invasion of Ukraine. Commodity price volatility. The rise of global inflation and interest rates. Currency depreciations among indebted middle-income economies. And now, natural disasters. As a sequence of events, the consequences can be both tragic and long-lasting. After analyzing the macroeconomic prospects of the Middle East and North Africa (MENA) Region, this edition of the regional Economic Update assesses the human toll of macroeconomic shocks in terms of lost jobs and deteriorating livelihoods of the people of MENA. Growth is forecast to decelerate in 2023 after experiencing an oil-price induced growth spurt in 2022 among the high-income oil exporters of the region. Yet as the region continues to recover from the impact of the COVID-19 shock and navigates the heightened volatility in its terms of trade, the region’s labor force is contending with the ramifications for their livelihoods of the inflationary pressures associated with currency fluctuations in some countries. The authors estimate that the macroeconomic shocks of 2020-22 led to an additional 5.1 million individuals becoming unemployed in MENA. Will these shocks permanently scar the hard-working people of MENA? The report answers this question by highlighting the trade-offs facing labor markets when facing macroeconomic shocks. A critical trade-off pertains to the loss of jobs versus decreases in real incomes, neither of which is desirable. The report advocates for maintaining the flexibility of real wages and discusses policy options to support the most vulnerable |
| Beschreibung: | Gesehen am 09.10.2023 |
| Beschreibung: | 1 Online-Ressource (55 Seiten) |
| ISBN: | 9781464820359 |
| DOI: | 10.1596/978-1-4648-2035-9 |
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| 520 | 3 | |a Covid-19. The Russian invasion of Ukraine. Commodity price volatility. The rise of global inflation and interest rates. Currency depreciations among indebted middle-income economies. And now, natural disasters. As a sequence of events, the consequences can be both tragic and long-lasting. After analyzing the macroeconomic prospects of the Middle East and North Africa (MENA) Region, this edition of the regional Economic Update assesses the human toll of macroeconomic shocks in terms of lost jobs and deteriorating livelihoods of the people of MENA. Growth is forecast to decelerate in 2023 after experiencing an oil-price induced growth spurt in 2022 among the high-income oil exporters of the region. Yet as the region continues to recover from the impact of the COVID-19 shock and navigates the heightened volatility in its terms of trade, the region’s labor force is contending with the ramifications for their livelihoods of the inflationary pressures associated with currency fluctuations in some countries. The authors estimate that the macroeconomic shocks of 2020-22 led to an additional 5.1 million individuals becoming unemployed in MENA. Will these shocks permanently scar the hard-working people of MENA? The report answers this question by highlighting the trade-offs facing labor markets when facing macroeconomic shocks. A critical trade-off pertains to the loss of jobs versus decreases in real incomes, neither of which is desirable. The report advocates for maintaining the flexibility of real wages and discusses policy options to support the most vulnerable | |
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| author | Gatti, Roberta Lederman, Daniel 1968- El-Mallakh, Nelly Torres, Jesica Silva, Joana Lotfi, Rana Suvanov, Ilias |
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| series2 | Middle East and North Africa Economic Update MENA economic update |
| spellingShingle | Gatti, Roberta Lederman, Daniel 1968- El-Mallakh, Nelly Torres, Jesica Silva, Joana Lotfi, Rana Suvanov, Ilias Balancing act jobs and wages in the Middle East and North Africa when crises hit |
| title | Balancing act jobs and wages in the Middle East and North Africa when crises hit |
| title_auth | Balancing act jobs and wages in the Middle East and North Africa when crises hit |
| title_exact_search | Balancing act jobs and wages in the Middle East and North Africa when crises hit |
| title_exact_search_txtP | Balancing act jobs and wages in the Middle East and North Africa when crises hit |
| title_full | Balancing act jobs and wages in the Middle East and North Africa when crises hit Roberta Gatti, Daniel Lederman, Nelly Elmallakh, Jesica Torres, Joana Silva, Rana Lotfi, and Ilias Suvanov |
| title_fullStr | Balancing act jobs and wages in the Middle East and North Africa when crises hit Roberta Gatti, Daniel Lederman, Nelly Elmallakh, Jesica Torres, Joana Silva, Rana Lotfi, and Ilias Suvanov |
| title_full_unstemmed | Balancing act jobs and wages in the Middle East and North Africa when crises hit Roberta Gatti, Daniel Lederman, Nelly Elmallakh, Jesica Torres, Joana Silva, Rana Lotfi, and Ilias Suvanov |
| title_short | Balancing act |
| title_sort | balancing act jobs and wages in the middle east and north africa when crises hit |
| title_sub | jobs and wages in the Middle East and North Africa when crises hit |
| url | https://doi.org/10.1596/978-1-4648-2035-9 http://hdl.handle.net/10986/40390 |
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