GFC victory 'premature', ILO deputy

As G20 labour ministers gather for talks in Melbourne this week there is a realisation that victory over the global financial crisis has been declared too soon, and co-ordinated action is needed to address sluggish jobs growth.

Sandra Polaski, deputy director-general for policy at the International Labour Organization (ILO), said a period of "complacency" was giving way to "anxiety" about the global economy and the G20 should do more to address this.

"Beginning in about 2010 there was a premature declaration of victory, that the crisis was over," Mrs Polaski told reporters in Melbourne on Tuesday.

"Then we saw a dip into recession in some countries, we saw this slowdown in growth overall.

"I think what's really significant this year ... is that Australia has really taken on the task of saying 'okay we need to do more on the stimulus side, we need to do more on the demand side'."

For discussion by the labour ministers is a joint OECD, World Bank and ILO report which says there are more than 100 million people unemployed across the G20 economies, and 447 million 'working poor' who live on less than $2 per day in G20 emerging economies.

The report says there is a large and persistent shortfall in the number and quality of jobs being created in G20 countries, as well as rising wage inequality and youth unemployment in advanced economies including Australia.

At the talks from Tuesday to Thursday, G20 labour ministers will - for the first time - each present a growth strategy and employment plan.

These will outline how each country intends to meet the broader goal of boosting GDP across the G20 by more than two per cent by 2018.

"These are steps forward to basically rally the G20 countries, to say we recognise now that more is needed, we stopped too soon and what very concretely and precisely should we do," Ms Polaski said.

Federal Employment Minister Eric Abetz said the meeting would also consider initiatives to increase female workforce participation and reduce exploitation in the 'informal' economy, such as child labour.

"There is no one-size-fits-all solution but with a co-operative approach and a balanced mix of policies, we will be better equipped to meet the challenges that we face globally and in our economies," Senator Abetz said.