World Employment And Social Outlook: Trends 2025 Report

The International Labour Organization’s (ILO) published the World Employment and Social Outlook: Trends 2025 report.

It provides an in-depth analysis of global labor market trends, highlighting challenges such as slowing economic recovery, persistent youth unemployment, and widening global jobs gaps.

Key Points of the Report

Global Unemployment Stability:
- The global unemployment rate remained steady at a historical low of 5% in 2024.
- It is projected to maintain this level through 2025, indicating a plateau in job creation.
Youth Unemployment Concerns:
- Despite overall stability, youth unemployment remains high, with rates of more than 12% for young men and women.
- It reflects systemic barriers to decent employment for younger demographics.
Economic Growth Slowdown:
- The global economy experienced a slowdown from 3.3% to 3.2% in 2024, with a gradual deceleration expected to limit job creation.
Policy Recommendations:
- ILO Director-General Gilbert Houngbo emphasizes the need for new approaches to social justice.
- He advocated for investments in education and leveraging migrant remittances to stimulate job creation and development in lower-income countries.

Challenges highlighted by the report

Geopolitical tensions, the rising costs of climate change and unresolved debt issues are putting labour markets under pressure.
Around 402.4 million jobs were missing in 2024, an increase of around 2.3 million from the previous year. This includes people who have stopped searching for a job because of discouragement.
Informal employment and working poverty have reverted to pre-pandemic conditions, with low-income nations encountering the greatest challenges in generating adequate jobs.
While employment in sub-Saharan Africa is increasing more rapidly than unemployment, a majority of workers are not engaged in productive and decent jobs.

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About ILO (International Labour Organization)

Headquarters and Establishment: The International Labour Organization (ILO) is headquartered in Geneva, Switzerland
It was established in 1919 as part of the Treaty of Versailles to promote social justice and improve labor conditions globally.
Membership: The ILO has 187 member states, including India, which was a founding member. It is the first and only tripartite UN agency, involving representatives from governments, employers, and workers to ensure balanced decision-making.
Major Conventions: The ILO has adopted 190 conventions, including:
- Convention No. 87 (1948): Freedom of Association and Protection of the Right to Organize.
- Convention No. 98 (1949): Right to Organize and Collective Bargaining.
- Convention No. 138 (1973): Minimum Age for Employment.
- Convention No. 182 (1999): Elimination of the Worst Forms of Child Labor.
Major Reports:
- World Employment and Social Outlook (WESO): Tracks global employment trends.
- Global Wage Report: Analyzes trends in wages and income inequality.
- ILO Monitor: Examines the impact of crises, such as COVID-19, on labor markets.
Significance:
- The ILO sets international labor standards, promotes decent work, and supports the implementation of the Sustainable Development Goals (SDGs), particularly Goal 8: Decent Work and Economic Growth.
It was awarded the Nobel Peace Prize in 1969 for its efforts in promoting peace through social justice.
Tripartite Structure:
- The ILO operates on a tripartite structure, involving representatives from governments, employers, and workers, ensuring a balanced approach in policy-making and labor governance.

Functions of ILO

Promotion of Social Justice:
- The ILO works towards achieving social justice by promoting decent work for all.
Core Labour Standards:
- The ILO sets core labor standards that include the elimination of forced labor, child labor, and discrimination in employment.
Impact on Global Labor Policies:
- The ILO plays a critical role in shaping global labor policies by producing influential reports, such as the World Employment and Social Outlook.
Advocacy for Sustainable Employment:
- The ILO advocates for inclusive and sustainable employment policies, emphasizing decent work opportunities for youth, women, and marginalized groups.

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