The world of work is at a crossroads, balancing between encouraging signs and persistent challenges. While global macroeconomic prospects appear stable, with a projected GDP growth of 3.2% for 2024 and 2025 by the IMF, geopolitical crises have unfortunately not abated. Deadly hotspots persist in the Middle East, Ukraine, Yemen, Haiti, and eastern Democratic Republic of the Congo, among others, hindering multilateral efforts.
On the employment front, the International Labour Organization (ILO) forecasts a global unemployment rate of 4.9% this year, slightly down from 5% in 2023. An improvement to be taken with a grain of salt as this rate still translates to 183 million unemployed people worldwide, a number that is still too high and hides a more alarming reality. The ILO estimates that the “jobs deficit,” meaning the number of people unemployed but willing to work, will actually reach 402 million people this year.
Among the populations most affected by this lack of opportunities are women, especially in low-income countries. In these nations, the jobs deficit stands at 22.8% for women, compared to 15.3% for men. A glaring inequality that adds to wage disparities: in the wealthiest countries, women earn on average 73 cents for every dollar earned by a man, a ratio that drops to 44 cents in poor countries.
The fight against informality also seems to be losing steam. The creation of formal jobs has not kept pace with the increase in the working-age population. The number of informal workers has risen from around 1.7 billion in 2005 to 2.0 billion in 2024.
In light of these findings, the ILO calls for urgent adoption of a “comprehensive approach” to reduce poverty and inequalities in labor markets. Despite the adoption of the Sustainable Development Goals in 2015, progress in these areas has lagged behind compared to the previous decade.
It is in this context that the ILO launched the Global Coalition for Social Justice last year, an initiative aimed at bringing together all stakeholders – governments, employers’ and workers’ organizations, multilateral institutions, civil society – around a common program to promote decent work. Switzerland is one of the 68 governments that have joined this initiative, which currently has over 250 partners.
The Coalition aims to promote decent working conditions and strengthen collective resilience in the face of ongoing changes. In the face of technological advancements, economic shocks, and environmental challenges, it is crucial to rethink our models. Director-General Gilbert F. Houngbo reiterated this at the first Coalition Forum held yesterday, Thursday, June 13, in Geneva as part of the International Labour Conference.
Only concerted and determined action, transcending divisions, will address the complex challenges facing the world of work. By uniting our forces and placing social justice at the heart of our priorities, we can truly tackle the injustices, inequalities, and insecurities we face today.