ILO
- INTERNATIONAL ORGANISATION
News:
ILO sees structural
imbalances in global labour market
What's
in the news?
●
Global unemployment rate is set to
increase in 2024 while growing social inequalities remain a concern, said the International Labour Organisation’s (ILO)
World Employment and Social Outlook: Trends 2024 report.
●
In
India, real wages are “positive” compared to other G20 countries, according to
the report.
Key
takeaways:
●
The report said the macroeconomic
environment deteriorated significantly over 2023.
●
It said that the ongoing geopolitical
tensions as well as persistent and broadening inflation triggered frequent and
aggressive moves by central banks.
Findings
of the Report:
1.
Recovered below pre-pandemic level with concerns:
●
Joblessness and the jobs gap have both
fallen below pre-pandemic levels but global unemployment will rise in 2024, the
report noted and maintained that growing inequalities and stagnant productivity
are causes for concern.
2.
Resilience of labour markets:
●
Despite the economic slowdown, global
growth in 2023 was modestly higher than anticipated, and labour markets showed
surprising resilience.
3.
Decline of real wages:
●
Real wages declined in the majority of G20
countries as wage increases failed to keep pace with inflation.
●
Moreover, in 2023, the numbers of workers
living in extreme poverty – earning less than US$2.15 per day per person in
purchasing power parity (PPP) terms – grew by about one million globally.
●
Only China, the Russian Federation and
Mexico enjoyed positive real wage growth in 2023 along with Turkey and India.
4.
Deepening Structural Issues:
●
As the cyclical factors impacting labour
markets have slowly been absorbed, structural issues in labour market
adjustment have become more pressing.
●
Job retention schemes – such as those put
in place in many advanced economies – proved essential to prevent firms and
workers losing valuable experience and skills.
Go
back to basics:
ILO:
●
It is a UN agency established in 1919 as an agency of the League of
Nations.
●
It is the only tripartite United Nations agency, bringing together
governments, employers and workers representatives from its 187 member states
to devise international labour standards.
●
HQ:
Geneva, Switzerland.
●
It deals with labour issues, particularly
international labour standards, social protection, and work opportunities for
all.
●
India
is a founder member of ILO.
●
The ILO registers complaints against
entities that are violating international rules; however, it does not impose
sanctions on governments.
Members:
●
The ILO has 187 member states: 186 of the 193 UN member states plus the Cook
Islands are members of the ILO.
●
In 1969, the organization received the Nobel Peace Prize for improving peace
among classes, pursuing decent work and justice for workers, and providing
technical assistance to other developing nations.
Reports:
●
World Employment and Social Outlook
●
Global Wage Report
●
World Social Protection Report.
●
World of Work Report
●
Social Dialogue Report
Eight
core conventions of the ILO:
●
Forced Labour Convention (No. 29)
●
Abolition of Forced Labour Convention
(No.105)
●
Equal Remuneration Convention (No.100)
●
Discrimination (Employment Occupation)
Convention (No.111)
●
Minimum Age Convention (No.138)
●
Worst forms of Child Labour Convention
(No.182)
●
Freedom of Association and Protection of
Right to Organised Convention (No.87)
●
Right to Organise and Collective
Bargaining Convention (No.98).
International
Labour Conference:
●
It sets the International labour standards
and the broad policies of the ILO.
●
It meets
annually in Geneva. It is often referred to as an International Parliament of Labour.
●
It is also a forum for discussion of key
social and labour questions.
International
Labour Office:
●
It is the permanent secretariat of the International Labour Organization.
●
It is the focal point for ILO’s overall
activities, which it prepares under the scrutiny of the Governing Body and
under the leadership of the Director-General.