BANGALORE: We know with a high degree of confidence that global population will continue to grow in the near term. But do we know that the global jobs crisis is hurting the chances of reigniting economic? Well certainly not.

With the world facing a global jobs crisis, the World Bank has warned that it will be a tough task to flare up the employment sector and there is no magic wand to solve the problem, reports Yahoo Finance.

According to a report released at the G20 Labour and Employment, despite some small improvement in the global economy recently, the jobs gap is projected to remain substantial in several G20 economies until at least 2018. To address this issue the World Bank also informed its group of 20 leaders to develop growth strategies and employment action plans to overcome this crisis.

The report further praised India for its established and highly successful national rural employment guarantee as it directly provides job opportunities in rural areas to build infrastructure and also income for vulnerable households.

With these developments India also managed to reduce the share of workers living in extreme poverty; however 29 percent of India’s workers still remained among the extreme working poor in 2010, with a further 37 percent living in moderate poverty.

So with the help of the National Rural Employment Guarantee Act (NREGA), which guarantees 100 days employment at  minimum wage for rural households, India  has also raised incomes and enhanced income security for the participating households.

The studies also found that wider positive effects on rural labor markets, where lifting a higher proportion of rural workers, particularly women, above the low pay is also proving to be a vital tool to reduce distress migration.
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