International Labour Organization (ILO) released a new report titled the World Employment and Social Outlook: Trends 2020 (WESO)

The International Labour Organization (ILO) released a new report titled the World Employment and Social Outlook: Trends 2020 (WESO).

About the annual World Employment and Social Outlook (WESO) Trends report

• It is released by International Labour Organization (ILO).

It has published its report after analyses key labour market issues like

1. unemployment,
2. labour underutilization
3. working poverty
4. income inequality
5. labour income share and factors that exclude people from decent work.

The three organs of the ILO are:

1. International Labour Conferences: – General Assembly of the ILO – Meets every year in the month of June.
2. Governing Body: – Executive Council of the ILO. Meets three times in a year in the months of March, June and November.
3. International Labour Office: – A permanent secretariat.

The eight Core Conventions of the ILO (also called fundamental/human rights conventions) are:

1. Forced Labour Convention
2. Abolition of Forced Labour Convention
3. Equal Remuneration Convention
4. Discrimination (Employment Occupation) Convention
5. Minimum Age Convention
6. Worst forms of Child Labour Convention
7. Freedom of Association and Protection of Right to Organised Convention
8. Right to Organise and Collective Bargaining Convention

Highlights of the report:

• Global Unemployment is projected to increase by around 2.5 million in 2020 due to slowing global economic growth.
• At the global level, income inequality is higher than previously thought, especially in developing countries.
• Worldwide, the share of national income going to labour (rather than to other factors of production) declined substantially between 2004 and 2017, from 54 % to 51 %.

International Labour Organization                                                                  

• India is a founder member of the International Labour Organization, which came into existence in 1919.
• At present, the ILO has 186 Members.
• A unique feature of the ILO is its tripartite character.

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