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[Excerpt] Since 2007, the world of work has been hit by a number of global developments, in particular financial turmoil, rising food prices and a shortage of raw materials. This has brought an end to the rapid growth and strong employment performance exhibited by the world economy almost uninterruptedly since the mid-1990s.

Looking forward, a critical issue is the extent to which the current financial crisis and slowdown in the world economy may aff ect disproportionately low-income groups. This is all the more relevant given that, as this chapter will show, during the high-growth period, income inequality increased in the majority of countries, which may in turn damage the social fabric.


Suggested Citation
International Institute for Labour Studies. (2008). World of Work Report 2008: Income inequalities in the age of financial globalization [Electronic version]. Geneva: International Labour Organization.