| International Labour Organization (ILO) • The only tripartite U.N. agency (specialised), since 1919 the ILO brings together governments, employers and workers of 187 Member States. • It sets labour standards, develops policies and devises programmes promoting decent work for all women and men. |
- Inequality is rising globally as labour income stagnates and a large portion of youth remain out of employment, education, or training, according to the International Labour Organisation’s (ILO) ‘World Employment and Social Outlook: September 2024 Update.’
- A key factor behind this decline is the impact of artificial intelligence (AI), which has not evenly distributed the benefits of technological progress.
- Global labour income as a share of total income earned by workers, fell by 0.6 % points from 2019 to 2022, remaining flat since.
- The COVID-19 pandemic contributed to nearly 40% of the reduction in labour income during 2020-2022.
- The report also noted slow progress on Sustainable Development Goals (SDGs) as the 2030 deadline nears.
- It warned that without stronger policy responses, automation-based technological innovations, despite increasing productivity, may continue to lower the labour income share.
Dig Deeper: Read about the FutureSkills PRIME initiative of NASSCOM and MeitY.
