ID | 087702 |
Title Proper | Labor markets in Africa |
Other Title Information | multiple challenges, limited opportunities |
Language | ENG |
Author | Scott D. Taylor |
Publication | 2009. |
Summary / Abstract (Note) | For most of this decade, sub-Saharan Africa enjoyed a period of sustained economic growth such as it had not seen since the 1960s. Until the global economic crisis hit, countries across the continent benefited from a salutary combination of favorable commodity prices, substantial international debt reductions, and, in numerous cases, more prudent fiscal management. Of course the improved performance, which included continent-wide economic growth of 4.7 percent between 2003 and 2008, was aided in particular by a nearly 300 percent increase in world petroleum prices over the period. But even when Africa's major oil-based economies are removed from the equation, the continent still showed commendable growth-reaching 4.9 percent in 2008, for example. For Africa's workforce, however, the positive impact of these developments can be difficult to discern. Indeed, despite the impressive macroeconomic performance, economic diversification has not occurred on a meaningful level. Poverty remains stubbornly entrenched on the continent. Unemployment, though improved in many countries, remains very high. And informal markets are still widespread. |
`In' analytical Note | Current History Vol. 108, No. 718; May 2009:p214-220 |
Journal Source | Current History Vol. 108, No. 718; May 2009:p214-220 |
Key Words | Labor Markets ; Africa ; Multiple Challenges ; Limited Opportunities |