Facts Box: ILO’s Labour Report, 2020
The International Labour Organization released its “The World Employment and Social Outlook: Trends 2020” (WESO) report. The report stated that the global unemployment has been stable for the last nine years. However, slowing economic growth means that for the increasing labour force, no new jobs are created.
The report has projected that the unemployment is to increase around 2.5 million in 2020. Currently there are 188 million people unemployed in the world. This means one in five of the workers worldwide are living in poverty.
The report also says that around 165 million people in the world do not have enough paid work and 120 million lack access to labour market. In all, more than 470 million are affected due to unemployment problems.
According to the report, the growth in countries of India and china in the past 13 years has caused the 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%.
Category: Reports & Indexes Current Affairs