The 2008-2009 global financial crisis has had serious impact not only on economic development but also on labor markets of the Asia Pacific region. According to global forecasting agencies, the world GDP growth dropped tremendously in 2008, worsened in 2009, and was now expected to rebound from 2010 onwards. However, the unemployment rates in most economies remain alarmingly high in comparison to figures from pre-crisis and this trend will continue to have significant implications on the socio-economic and political stability. The unemployment problem is no longer cyclical but structural.
Led by the Chinese Taipei committee of PECC, this international project examined the impact of structural unemployment in the region in the post-crisis period.
- Examine the mid to long-term structural unemployment issues and their impact on socio-economic development
- Identify economic and social factors causing structural unemployment
- Investigate existing economic and social practices aiming at resolving structural unemployment and mitigating its reverse impact
- Identify and explore best practices as potential solutions for the mid to long-term structural unemployment in the Asia Pacific
- Provide feasible policy recommendations for policy makers in the region
26th Pacific Economic Community seminar entitled, "Examining the Mid and Long-Term Structural Unemployment Issues in the Asia Pacific," hosted by CTPECC took place in Taipei during the fourth quarter of 2011.