Daily News Analysis

World Employment and Social Outlook Report 2023

15 Jan,2024 Download Pdf 2 Min Read

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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