The current status of labor market in Muslim countries

Toseef Azid; Umar Burki; Muhammad Junaid Khawaja; Nasim Shah Shirazi; Muhammad Tahir

doi:10.4324/9781032019550-11

The current status of labor market in Muslim countries

Toseef Azid, Umar Burki, Muhammad Junaid Khawaja, Nasim Shah Shirazi, Muhammad Tahir

Islamic Studies – Academic

Research output: Chapter in Book/Report/Conference proceeding › Chapter › peer-review

Abstract

This chapter discusses different dimensions of the labor market of organization of Islamic conference (OIC) countries. Most OIC member countries’ workers are working with meager salaries/wages and have not a good opportunity to get social security and unemployment insurance. The state of unemployment could not improve in most of the OIC member countries. And their situation is deteriorating continuously. East Asian financial crisis of 1997 hit severely many East Asian countries, including Indonesia. Azerbaijan is rich in oil and natural gas, and its oil industry is as old as back to the 19th century. It is worth noting that OIC countries can increase their aggregate demand because of the member countries’ structure. Charity is the third pillar of Islam, and it purifies the soul and wealth. It is considered a symbol of benevolence, worship, good deeds, and notion for the community’s welfare. The charity serves a neglected segment of society.

Original language	English
Title of host publication	Labor Economics in an Islamic Framework
Subtitle of host publication	Theory and Practice
Place of Publication	London
Publisher	Routledge
Chapter	9
Number of pages	40
Edition	1
ISBN (Electronic)	978-1032019550
DOIs	https://doi.org/10.4324/9781032019550-11
Publication status	Published - 30 Dec 2021

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The current status of labor market in Muslim countries

Abstract

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