Context:
- The ninth edition of the International Labour Organisation (ILO) Monitor on the “world of work” was released recently.
Details:
- The report notes multiple challenges or points of concern with respect to work or job opportunities.
- There has been a drop in the number of hours worked globally in the first quarter of 2022. In fact, it has dropped to levels noted before the pandemic. This could be considered indicative of job losses. According to the report, about 11.2 crore jobs might have been lost during this period.
- The growing divergence between richer and poorer economies in the post-pandemic economic recovery remains a point of concern given that the lack of decent job opportunities in low- and middle-income countries will only adversely impact the socio-economic development in these countries.
- The gender gap in the employment scenario continues to remain a major point of concern in lower-middle-income countries including India. The number of women who have lost their jobs due to the pandemic is larger as compared to the number of men. Hence, the pandemic seems to have exacerbated the already substantial gender imbalances in employment.
- The fresh lockdowns in China and the conflict between Ukraine and Russia which would lead to global supply chain disruption and the global rise in the prices of food and fuel which would add to financial turbulence and potential debt distress could add more pressure to the current situation.
Recommendations:
- Given the direct link between work and standard of living, countries must adopt a humane approach to address the dire situation.
- The focus should be on the creation of decent jobs and ensuring decent wages. Implementing minimum wage and living wage will be critical. The focus should be on improving the purchasing capacity of the workers.
- Ensuring social security for all workers should also be pursued.