World Employment and Social Outlook Report
21.01.2025
World Employment and Social Outlook Report
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For Prelims: About World Employment and Social Outlook, Key highlights of the Report |
Why in the news?
Recently, the International Labour Organization’s (ILO) published the World Employment and Social Outlook:Trends 2025 in Geneva.
About World Employment and Social Outlook Report:
- It provides a detailed analysis of the state of global labour markets, highlighting key trends and challenges.
- It explores issues such as the slowdown in labour market recovery, the persistence of youth unemployment, and the widening global jobs gap.
Key highlights of the Report:
- In 2024, global employment grew in line with the labour force, keeping the unemployment rate steady at 5%.
- Geopolitical tensions, the rising costs of climate change and unresolved debt issues are the challenges before the recovery and the reasons for putting labour markets under pressure.
- The labour force participation rates have dropped in low-income countries while increasing in high-income nations, mainly among older workers and women, the report pointed out.
- The report urged member countries:
- To boost productivity, invest in skills training, education and infrastructure to support economic growth and job creation.
- Expand social protection: provide better access to social security and safe working conditions to reduce inequality.
- Use private funds effectively: low-income countries can harness remittances and diaspora funds to support local development
Source: The Hindu
World Employment and Social Outlook report, recently seen in the news, is published by:
A.World Bank
B.International Monetary Fund
C.World Economic Forum
D.International Labour Organization
Answer D