Why is life becoming harder to afford despite economic growth?

The cost of everyday life has risen sharply in recent years, leaving many working people struggling to make ends meet. Yet economies have continued to grow and productivity has increased. So why aren’t workers always seeing the benefits in their incomes?

Recorded during the World Bank and IMF Annual Meetings in Bangkok, ILO Chief economist Sangheon Lee explores the low-pay, low-productivity jobs trap and explains why better jobs can themselves help drive economic growth. He also looks at how artificial intelligence could widen existing inequalities, the challenges facing small and medium-sized enterprises, and what policymakers can do to ensure that productivity gains translate into better jobs, higher incomes and improved living standards.