Productivity growing more slowly in Asia

Report finds region facing numerous challenges, including rising unemployment among young people

- ELAINEKURTENBACH

An elderly woman shops in Tokyo this month. By improving productivity, Asian governments can boost incomes and better prepare for the aging of their workforces, according to a recent report by the International Labour Organization.

As economies in Asia and the Pacific slow and grow older, countries need to do more to ensure that workers get the education, training and social safety nets needed to raise incomes and ensure social equity, a United Nations report said Tuesday.

The report by the International Labour Organization said growth in productivity has slowed, hurting incomes and undermining the purchasing power of the region’s two billion workers. By improving productivity, governments can boost incomes and better prepare for the aging of their workforces, the report said.