How the Data Indicated for the Labor Market Problems

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How the Data Indicated for the Labor Market Problems, Poor quality of work is a major problem facing global labor markets, with millions forced to accept poor work, warns International Organization report of Labor (ILO).

Data collected for the Global Employment and Social Issues – This report, published by the ILO, notes that a number of major decent work deficits persist, and sounds the alarm: at the current rate of progress made, the goal of decent work for all, such as as stated in the sustainable development goals (SDGs), and in particular Goal 8 , seems impossible to achieve in many countries.

“Goal 8 is not just about full employment, but also quality employment.” says Deborah Greenfield, Deputy Director-General for ILO Policy.

The report draws attention to the fact that some new business models, especially those favored by new technologies, threaten to undermine existing labor market outcomes – in areas such as improved formality and job security, social protection and labor standards – unless policymakers rise to the challenge.

How the Data Indicated for the Labor Market Problems, “Having a job does not always guarantee a decent way of life,” says Damian Grimshaw, director of the ILO’s Research Department. “The proof: 700 million people live in a situation of extreme poverty or moderate poverty, although they have a job.”

“700 million people live in extreme poverty or moderate poverty, despite having jobs”, says Damian Grimshaw, ILO Research Department.

Among the problems highlighted is the lack of progress in reducing the gap between the participation rate of men and women. The participation rate for women is only 48 percent, compared to 75 percent for men. Women also represent a much larger share of the potential, underutilized workforce. Another problem is that informal employment is still so prevalent, with a staggering 2 billion workers – or 61 percent of the global workforce – classified in this category. Another concern is that more than 20 percent of young people (under 25) are out of school or out of work or training, compromising their future employment prospects.