World Employment and Social Outlook Trends 2020 – ILO 24/01/2020 – Posted in: Daily News – Tags: , , ,

For: Preliminary & Mains

Topics covered:

  • About the International Labour Organisation
  • About Working Poverty
  • Key findings of WESO report 2020

 

News Flash

International Labour Organisation (ILO) has recently released ‘World Employment and Social Outlook Trends 2020’ (WESO) report. It also predicated unemployment to increase by around 2.5 million in 2020.

 

Key Findings: World Employment and Social Outlook Trends 2020

  • 188 million people are unemployed globally and 165 million adults unable to get enough paid work.
  • Another 120 million people had given up actively searching for work.
  • More than three in five workers are in informal employment.
  • Global unemployment will rise by 2.5 million in 2020.
  • After nine years in decline, the rate of global unemployment remained unchanged in 2019, at 5.4%.
  • Around 267 million people (aged between 15-24) are not in employment, training or education
  • Rising unemployment and deep inequality gap have made it difficult for people to live better through jobs or work.
  • The growth of the labour force is slowing down in middle and high-income countries, which means that fewer jobs need to be created to stabilize unemployment rates.

 

 

Indian scenario

  • According to the report, the growth in countries of India and China in the past 13 years has caused global labour inequality to reduce.
  • However, the labour income distribution within these countries has not changed.
  • The Gender gap in wages of the labours is more in South Asian countries such as India, Pakistan and Bangladesh as compared to the rest of the world.
  • While it stands at 15% in developed nations, in these countries the gender gap of wages is 40%.

 

Working Poverty

According to the ILO’s report, those people earning less than USD 3.20 per day are considered as working poverty-ridden people. ILO highlights that working poverty affects over 630 workers across the world. It is about one in five of the worldwide working population.

 

International Labour Organisation

The only tripartite U.N. agency, since 1919 the ILO brings together governments, employers and workers of 187 member States, to set labour standards, develop policies and devise programmes promoting decent work for all women and men.

The ILO was founded in 1919, in the wake of a destructive war, to pursue a vision based on the premise that universal, lasting peace can be established only if it is based on social justice. The ILO became the first specialized agency of the UN in 1946.

 

Source: CNBC

 

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