UN report says that education, social safety nets vital for Asia to grow rich, cope with aging

By ELAINE KURTENBACH
AP Business Writer

TOKYO (AP) — A report by the United Nations says that 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. The report Tuesday by the International Labor Organization said that slowing growth in productivity is hurting incomes and undermining the purchasing power and job opportunities of the region’s 2 billion workers. The report highlighted ways to cope with aging work forces and high unemployment among young people. It says that youth unemployment is more than triple the adult rate, at 13.7%, particularly in East Asian countries like China.