World Employment and Social Outlook Trends 2021 Report-ILO
In June, 2021, the International Labour Organization has released the World Employment and Social Outlook (WESO) : Trends report 2021.
ILO was created in 1919 as part of the Treaty of Versailles that ended World War I, to reflect the belief that universal and lasting peace can be accomplished only if it is based on social justice.
In 1946, the ILO became a specialized agency of the newly formed United Nations.
ILO has 187 member states, India is a founding member of ILO.
It is a triparite U.N. agency, which brings together governments, employers and workers.
The headquarter of ILO is situated in Geneva, Switzerland.
India assumed the Chairmanship of Governing Body of the ILO in 2020.
Key Findings of the report loss of work hour
The COVID-19 pandemic has caused unparalled disruption worldwide through its devastating impact on public health, employment and livelihoods.
Global unemployment is expected to be at 205 million in 2022, suspassing the 2019 level of 187 million as per the report.
The job shortfalls induced by novel coronavirus disease pandemic was 75 million in 2021 and is expected to be 23 million in 2022.
In 2020, on estimated 8.8 percent of total working hours were lost the equivalent of the house worked in one year by 255 million full time workers.
COVID-19 has pushed over 100 million more workers into poverty worldwide.
Relative to 2019, an estimated additional 108 million workers are now extremely or moderately poor meaning that they and their family members are having to live on less than USD 3.20 per day.
Highest employment population ratio is found in low-income countries.
Africa has the highest unemployment rate (12%).
Women employment is decline by 5% as compared with 3.9% for men.
Women have suffered disproportionate job losses while seeing their unpaid working time increase.
The recovery would remain fragile in many countries due to uneven rollout of vaccination compaigns and higher level of public debt and deficit that would make it difficult to tackle the effects of the pandemic. There is an urganet need to build back, better, create productive employment opportunities and foster long- term labour market prospects for the most vulnerable.