Daily News Analysis

World Employment and Social Outlook Report 2023

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Released by- International Labour Organisation

Publication- Annually

  • Theme- The value of essential work.

About- It details the impact of economic slowdown on the global labour market.

2023 report- It calls for a revaluation of the work of key workers to reflect their social contribution and greater investment in key sectors.

  • Key workers- Food system workers, health workers, retail workers, security workers, manual workers, cleaning and sanitation workers, transport workers, and technicians and clerical workers.

 

Key highlights

Aspects

Trend

Global unemployment rate

5.1%, a modest improvement on 2022

Global labour force participation rate

It is expected to decline further in 2023, reaching 60.5% the lowest level since 1990.

Global labour income share

It has fallen by 3.3% points since 2004 indicating worsening of income inequality

Number of workers in extreme or moderate poverty

It is estimated to increase by 34 million in 2023, reversing the progress made in the past decade.

women workforce

They account for 38% of all key workers

globally, though they are the majority in health and retail.

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