Our key takeaway: The significant challenges global labour markets face, amidst the backdrop of climate change and biodiversity loss, is made abundantly clear in the new ILO report. A confluence of these challenges will lead to a downward pressure on employment growth, adequate living standards, decent work, and equality - disproportionately impacting the more vulnerable groups in society such as women, young people and those working in low-income countries. The report calls on policymakers to take a more “human-centred” approach to address the myriad challenges facing the global economy, with social and labour protections at the core of this approach. For companies, the report is a reminder that strong labour and social protection rights for workers is critical for people and business. Companies can use their leverage, which includes working with other actors such as civil society organisations, to encourage policy-makers to implement stronger labour rights, and ensure that their own value chain adheres to international labour laws and standards.
The International Labour Organization (ILO) published its World Employment and Social Outlook Trends 2023 Report (2023):