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<ul class="summary-list"><li>A new ILO report finds workers lost $3.7 trillion in earnings throughout the pandemic, with Americans losing the most.</li><li>Women and younger workers were the hardest hit by employment losses.</li><li>America will also have a harder <keyword id="6358025" type="UNKNOWN" weightage="60" keywordseo="recovery">recovery</keyword> as the pandemic continues its spread.</li></ul>Workers around the world cumulatively lost $3.7 trillion in earnings during the coronavirus pandemic - an 8.3% decline - according to a <a href="https://www.ilo.org/global/about-the-ilo/newsroom/news/WCMS_766949/lang--en/index.htm">new report from the International Labour Organization</a> (ILO).American workers saw the largest losses in earnings, a 10.3% decline. Globally, 8.8% of working hours were lost, and 114 million people experienced employment loss - what the report called an "unprecedented" level. <h2>An uneven loss</h2>Women have been harder hit by the pandemic's effect on employment. In December, <a href="https://www.businessinsider.com/women-lost-140000-jobs-in-december-2021-1">the US lost 140,000 jobs</a> - all of which were held by women. Now, the ILO finds that women experienced <keyword id="6358907" type="UNKNOWN" weightage="60" keywordseo="unemployment">unemployment</keyword> losses of 5%, while losses were at 3.9% for men. As the ILO notes, women were more likely to become "inactive," meaning that they dropped out of the labor market.That would track with prior trends for women's unemployment: <a href="https://www.businessinsider.com/married-women-are-losing-jobs-highlighting-coronavirus-inequities-2020-10">As Insider's Taylor Borden reported</a>, one million married women lost their jobs in September 2020. Those losses came during back to school season, when many working American mothers may have exited the labor force to care for children who are attending school virtually or <a href="https://www.businessinsider.com/pandemic-child-care-closures-could-be-terrible-for-womens-careers-2020-5">are without childcare</a>.Younger workers - those who are ages 15-24 - were also disproportionately impacted by employment losses. They saw losses of 8.7%, while adults on the whole saw a 3.7% loss. That trend has been consistent throughout the pandemic. Gen Z, the oldest of whom is 23, <a href="https://www.businessinsider.com/gen-z-class-2020-graduates-future-career-recession-2020-5">saw college experiences, a bustling labor market, and markers of adulthood all yanked away as the pandemic set in</a>. As <a href="https://www.businessinsider.com/how-pandemic-protests-politics-affected-gen-z-most-unemployed-recession-2020-12">Insider's Hillary Hoffower reported</a>, Gen Z has become the most unemployed generation - and is on track to repeat the same money problems as millennials.The ILO report said the group is at risk of becoming a "lost generation."<h2>There's hope for recovery, but it'll likely be uneven</h2>The <a href="https://www.businessinsider.com/3-charts-show-december-jobs-report-devastating-for-vulnerable-workers-2021-1">most vulnerable workers have faced some of the biggest job losses throughout the pandemic's recovery</a>, and that K-shaped trajectory may continue.The ILO's baseline recovery scenario still projects a 3% loss in working hours for 2021; its most pessimistic forecast sees a 4.6% decrease, while the most optimistic scenario sees a 1.3% drop.The report calls for a targeted recovery that would provide support for hard-hit workers and sectors. <a href="https://www.bloomberg.com/news/articles/2021-01-24/world-s-economic-recovery-gets-delayed-by-slow-vaccine-rollouts?sref=BLKWHazc">As Bloomberg reports</a>, a slow vaccine rollout - and uneven distribution - could also impact the global recovery, as the World Bank and the International Monetary Fund are adjusting their respective outlooks downward.America's ever-continuing pandemic will also impact its recovery during 2021."The Americas and Europe and Central Asia are expected to suffer working-hour losses more than twice as large as those in other regions, owing to the stringent health measures that were in place at the start of the year," the ILO report says. "The Americas suffered by far the largest losses in 2020, and accordingly have the most ground to make up, while at the same time still experiencing serious restrictions because of the ongoing pandemic."

Workers lost $3.7 trillion in earnings during the pandemic. Women and Gen Z saw the biggest losses.

New Delhi, Apr 7 () The COVID-19 crisis has the potential to push around 40 crore informal sector workers in India deeper into poverty, with the lockdown and other containment measures affecting jobs and earnings, an International Labour Organisation (ILO) report said on Tuesday. India has imposed a three-week lockdown till April 14 to contain the pandemic. As per ILO, India is among the countries less equipped to handle the situation. "COVID-19 is already affecting tens of millions of informal workers. In India, Nigeria and Brazil, the number of workers in the informal economy affected by the lockdown and other containment measures is substantial," the ILO report released in Geneva said. "In India, with a share of almost 90 per cent of people working in the informal economy, about 400 million workers in the informal economy are at risk of falling deeper into poverty during the crisis. "Current lockdown measures in India, which are at the high end of the University of Oxford's COVID-19 Government Response Stringency Index, have impacted these workers significantly, forcing many of them to return to rural areas," it said. The report further said countries experiencing fragility, protracted conflict, recurrent natural disasters or forced displacement will face a multiple burden due to the pandemic. "They are less equipped to prepare for and respond to COVID-19 as access to basic services, especially health and sanitation, is limited; decent work, social protection and safety at work are not a given; their institutions are weak; and social dialogue is impaired or absent," it added. The ILO also noted that the pandemic is having a catastrophic effect on working hours and earnings globally. The new ILO report highlights some of the worst affected sectors and regions, and outlines policies to mitigate the crisis. It found that the crisis is expected to wipe out 6.7 per cent of working hours globally in the second quarter of 2020 -- equivalent to 195 million full-time workers. Large reductions are foreseen in the Arab states, (8.1 per cent, equivalent to 5 million full-time workers), Europe, (7.8 per cent, or 12 million full-time workers) and Asia and the Pacific (7.2 per cent, 125 million full-time workers). Huge losses are expected across different income groups but especially in upper-middle income countries (7 per cent, 100 million full-time workers). This far exceeds the effects of the 2008-9 financial crisis. The sectors most at risk include accommodation and food services, manufacturing, retail, and business and administrative activities. The eventual increase in global unemployment during 2020 will depend substantially on future developments and policy measures. There is a high risk that the end-of-year figure will be significantly higher than the initial ILO projection of 25 million, it said. More than four out of five people (81 per cent) in the global workforce of 3.3 billion are currently affected by full or partial workplace closures. "Workers and businesses are facing catastrophe, in both developed and developing economies," ILO Director-General Guy Ryder said. "We have to move fast, decisively, and together. The right, urgent, measures, could make the difference between survival and collapse." The 'ILO Monitor 2nd edition: COVID-19 and the world of work', which describes COVID-19 as "the worst global crisis since World War II", updates an ILO research note published on March 18. The updated version includes sectoral and regional information on the effects of the pandemic. According to the new study, 1.25 billion workers are employed in the sectors identified as being at high risk of "drastic and devastating" increases in layoffs and reductions in wages and working hours. Many are in low-paid, low-skilled jobs, where a sudden loss of income is devastating. Looked at regionally, the proportion of workers in these "at risk" sectors varies from 41 per cent in the Americas to 26 per cent in Asia and the Pacific. Other regions, particularly Africa, have higher levels of informality, which combined with a lack of social protection, high population density and weak capacity, pose severe health and economic challenges for governments, the report cautions. Worldwide, two billion people work in the informal sector (mostly in emerging and developing economies) and are particularly at risk. Large-scale, integrated, policy measures are needed, focusing on four pillars -- supporting enterprises, employment and incomes; stimulating the economy and jobs; protecting workers in the workplace; and, using social dialogue between government, workers and employers to find solutions, the study says. "This is the greatest test for international cooperation in more than 75 years," said Ryder. "If one country fails, then we all fail. We must find solutions that help all segments of our global society, particularly those that are most vulnerable or least able to help themselves. "The choices we make today will directly affect the way this crisis unfolds and so the lives of billions of people," he added. KKS ABMABM

COVID-19 crisis can push 40 cr informal sector workers in India deeper into poverty: ILO

<ul class="summary-list"><li>A new <a href="https://www.ilo.org/global/about-the-ilo/newsroom/news/WCMS_755875?lang=en">report</a> from the <keyword id="240184" type="ORGANIZATION" weightage="60" keywordseo="International-Labour-Organization">International Labour Organization</keyword> details worse-than-expected damage in the global <keyword id="409455" type="PERSON" weightage="60" keywordseo="labor-market">labor market</keyword> and forecasts pain lasting through the fourth-quarter of 2020.</li><li>The <keyword id="6355833" type="ORGANIZATION" weightage="60" keywordseo="united-nations">United Nations</keyword> agency expects working-hour losses to remain elevated through the third quarter at 12.1%, or 345 million full-time-equivalent jobs.</li><li>Global labor income is expected to shrink over the first three quarters of 2020 by 10.7%, or $3.5 trillion, the <keyword id="6456249" type="UNKNOWN" weightage="60" keywordseo="ilo">ILO</keyword> added.</li><li>The bulk of the fallout landed among middle-income nations, the agency said.</li><li>The ILO projected fourth-quarter working-hour losses to reach 8.6%, up from the previous estimate of 4.9%.</li></ul>The coronavirus's labor-market hit has mostly been quantified by the amount of jobs lost and a rising <keyword id="6358907" type="UNKNOWN" weightage="60" keywordseo="unemployment">unemployment</keyword> rate. The International Labour Organization — a United Nations agency — now projects the pandemic erased roughly $3.5 trillion in worker income year-to-date.The agency laid out its latest reading of the global labor market in a Wednesday <a href="https://www.ilo.org/global/about-the-ilo/newsroom/news/WCMS_755875?lang=en">report</a>, highlighting lasting pain in the workforce while other economic indicators return to pre-pandemic highs.Working-hour losses are expected to remain elevated through the third quarter at 12.1%, or 345 million full-time-equivalent jobs, the ILO said. Those losses signal a global drop in labor income of 10.7% over the first three quarters of 2020 compared to the year-ago period.Second-quarter working-time losses landed above estimates. While the agency expected losses to reach 14%, or 400 million FTE jobs, Wednesday's report pegs the total at 17.3%, or 495 million FTE jobs.Read more: <a href="https://www.businessinsider.com/trading-strategy-fx-legend-randy-mckay-7-rules-made-millions-2020-9">Legendary trader Randy McKay turned $2,000 into $70,000 in just 7 months. Here are the 7 trading rules that contributed to his multi-year run of million dollar-plus returns.</a>Labor income losses were highest in middle-income countries, the agency said. Lower-middle-income countries saw losses reach 15.1%, while upper-middle-income countries' losses hit 11.4%. To be sure, ILO's tally of wages lost doesn't include income regained from government support measures, such as the US's expansion of unemployment benefits. The agency estimates that increases to stimulus spending by 1% of gross domestic product would've shaved 0.8 percentage points from working-hour losses.Had no stimulus been passed, global working-hour losses could've rocketed as high as 28% in the second quarter, ILO added.Read more: <a href="https://www.businessinsider.com/investing-advice-stocks-to-buy-amid-sell-off-morgan-stanley-2020-9" target="_blank" rel="noopener">Buy these 15 stocks right now before they rally higher, says the Morgan Stanley equity chief who nailed his call for a short-term market meltdown</a>A global stimulus gap is also dragging lower- and middle-income nations' economies at a disproportionate rate, according to the report. ILO estimates that such countries need to pass another $982 billion in relief spending to match the aid seen in high-income nations. The stimulus gap is just 1% of the total value of stimulus packages passed by high-income countries, the agency noted.ILO's fourth-quarter outlook doesn't leave much room for optimism. ILO estimated working-hour losses to total 8.6% from the year-ago period, or roughly 245 million FTE jobs. That's up from a previous estimate of 4.9%, or 140 million FTE jobs.The worsening outlook comes as Congress all but entirely gives up on passing new stimulus. Democrats and Republicans failed to reach a compromise through September as both parties stood apart on bill sizing and program allocations. Senate Republicans' push to confirm a new Supreme Court justice also overshadowed plans to pass new fiscal relief.Read more: <a href="https://www.businessinsider.com/stocks-to-buy-on-the-dip-3-companies-marc-chaikin-2020-9" target="_blank" rel="noopener">A Wall Street expert explains why the market's ongoing turbulence could end within 2 weeks — and pinpoints 3 stocks to grab cheaper now as big investors buy the dip</a>

Coronavirus fallout has erased $3.5 trillion in workforce income, UN agency says

ReutersPeople who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease at an Arkansas Workforce Center in Fayetteville, Arkansas on April 6.<ul class="summary-list"><li>A United Nations agency released <a href="https://www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/briefingnote/wcms_740877.pdf">a report</a> on Tuesday forecasting a 7% drop in global working hours in the second quarter. A drop so severe represents roughly 195 million full-time jobs worldwide.</li><li>The devastating report comes just three weeks after the agency said the coronavirus will wipe out 25 million jobs - Guy Ryder, the director of United Nations' International Labour Organization, now estimates 30 million jobs were lost in the first quarter of 2020 alone.</li><li>Ryder said the "catastrophe" is evident in "both developed and developing countries," and will be more evident in certain sectors, like retail and food services.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a></li></ul>The coronavirus pandemic is already pushing the global economy <a href="https://www.businessinsider.com/economic-outlook-coronavirus-labor-market-unemployment-rapid-recovery-recession-experts-2020-4">toward recession</a>, with job losses already erupting across <a href="https://www.businessinsider.com/hotels-airlines-coronavirus-recession-economy-worker-job-losses-2020-3">many labor sectors within the US</a>. And the <a href="http://ilo.org">United Nations' International Labour Organization</a> (ILO) just said its going to get worse worldwide.On Tuesday, the ILO said the coronavirus is expected to decimate global working hours by nearly 7% in the coming months - a dramatic dip equivalent to <a href="https://www.ilo.org/global/about-the-ilo/newsroom/news/WCMS_740893/lang--en/index.htm">195 million full-time jobs worldwide.</a>"Workers and businesses are facing catastrophe, in both developed an developing economies," said the ILO's Director-General, Guy Ryder. The ILO also said that four out of five people in the 3.3 billion-person global workforce are currently impacted by workplace closures.Three weeks ago, the ILO initially forecasted global job loss to total 25 million at the end of 2020. It is now warning that the final figure could be substantially higher than the original projection. In the new report, Ryder estimated more than 30 million jobs were lost in the first quarter of 2020 alone. He also said that certain sectors will bear the brunt of the collapse - singling out the retail, real estate, manufacturing, and food service industries. The ILO also estimated that 1.25 billion workers - or 38% of the total global workforce - are employed in these sectors.In the US, a record-breaking <a href="https://www.businessinsider.com/us-weekly-jobless-claims-unemployment-filings-record-labor-market-coronavirus-2020-4">6.6 million people filed for unemployment in one week alone,</a> and the economy has already <a href="https://www.businessinsider.com/new-york-feds-weekly-economic-index-economy-fall-2009-lows-2020-3">plummeted to Great Recession lows.</a>Even still, Ryder pointed out the greatest concern lies with still developing countries. "If one country fails, then we all fail," Ryder said. "We must find solutions that help all segments of our global society, particularly those that are most vulnerable or least able to help themselves."Do you have a personal experience with the coronavirus you'd like to share? Or a tip on how your town or community is handling the pandemic? Please email <a href="mailto:covidtips@businessinsider.com">covidtips@businessinsider.com</a> and tell us your story.And get the latest <a href="/coronavirus-business-impact">coronavirus analysis and research</a> from Business Insider Intelligence on how COVID-19 is impacting businesses. <h3>NOW WATCH: <a href="https://www.businessinsider.com/what-its-like-to-do-your-own-taxes-for-the-very-first-time-2018-2">Tax Day is now July 15 - this is what it's like to do your own taxes for the very first time</a></h3>

The United Nations just said that coronavirus could wipe out the equivalent of 195 million jobs worldwide

According to new numbers, <a href="http://www.businessinsider.com/eurozone-unemployment-and-youth-unemployment-hit-a-new-high-2013-1">youth unemployment rates across Europe</a> just hit new highs.
Unfortunately, the young and unemployed are not likely to see their situation improve anytime soon. According to a <a href="http://www.ilo.org/global/research/global-reports/global-employment-trends/2012/WCMS_188810/lang--en/index.htm" target="_blank">report by the International Labour Organization</a>, the global <keyword id="1727471" type="UNKNOWN" weightage="60" keywordseo="youth-unemployment">youth unemployment</keyword> rate will continue to edge higher beyond 2014, and will hit 12.9% by 2017, 0.2 percentage points up from 2012.
From the ILO:
"As the euro area crisis continues in its second year, the impacts are spreading further, slowing down economies from East Asia to Latin America. Other regions such as Sub-Saharan Africa that had expected faster improvements in their youth Labour markets will now take longer to revert to levels seen prior to the global financial crisis. In developed economies, youth <keyword id="6358907" type="ORGANIZATION" weightage="60" keywordseo="unemployment">unemployment</keyword> rates are expected to fall over the coming years, after having suffered from the largest increase among all regions at the beginning of the crisis, but principally because discouraged young people are withdrawing from the Labour market and not because of stronger hiring activity among youngsters."
Here's a chart of the ILO's projections:
<div class="image-container" style="width:610px"><div class="image"></div><a href="http://www.ilo.org/global/research/global-reports/global-employment-trends/2012/WCMS_188810/lang--en/index.htm">International Labour Organization</a></div>
 
Here's an interactive map of the youth unemployment rate in <keyword id="6490096" type="ORGANIZATION" weightage="60" keywordseo="Eurozone">Eurozone</keyword> and neighboring countries. (Source: latest available data from Eurostat.)
<h5></h5>

Worldwide Youth Unemployment Rates Will Stay High For Years

LONDON (Reuters) - The number of Britons claiming unemployment benefit fell for an eighth consecutive month in June and at its fastest rate for three years in the latest sign that Britain's economic recovery is gaining momentum.
The Office for National Statistics said the number of people claiming jobless benefit fell by 21,200 last month. Economists had expected a drop of just 8,000.
A large favorable revision to the prior month added to the robust picture.
Britain's central bank has refrained from injecting fresh stimulus into the economy in the form of quantitative easing this year and focused its efforts on initiatives to boost lending to households and businesses.
The number of people without a job on the wider and lagging ILO measure dropped by 57,000 in the three months to May to 2.5 million.
The ILO jobless rate held steady 7.8 percent, as expected.
One way employers have been able to keep staff is by limiting pay rises.
Average weekly earnings growth including bonuses picked up slightly to 1.7 percent in the three months through May compared to a year earlier, still well below inflation. Excluding bonuses, pay grew by just 1.0 percent.
(Reporting by Christina Fincher and Christine Murray)
<div class="nc_footer">
Copyright (2013) Thomson Reuters. <a href="http://thomsonreuters.com/products_services/media/brand_guidelines/legal_notice/">Click for restrictions</a>
</div>

UK Jobless Claims Fall At Their Fastest Pace In 3 Years

According to the latest World Bank data, Nigeria had a population of 168,833,776 in 2012, compared with a population of 313,914,040 in the United States.
In 30 years, the world will likely look very different.
"Secular population trends still favor Emerging Markets, as working population growth in Asia, Latin America, the Middle East and Africa will easily outpace growth in the West," says BofA Merrill Lynch chief investment strategist Michael Hartnett. "Demographic trends in Africa are of particular note with the population of Nigeria set to overtake that of Indonesia’s by 2034, and the US population in 2045."
<div class="image-container click-to-enlarge"><div class="image"><a title_source="BofA Merrill Lynch Global Investment Strategy, Haver" title_caption="" class="zoomin" href="http://static5.businessinsider.com/image/5203cb4d69bedd3c5800001a-960/screen%20shot%202013-08-08%20at%2012.45.22%20pm.png"></a>BofA Merrill Lynch Global Investment Strategy, Haver</div></div>
Labor force <keyword id="386231" type="UNKNOWN" weightage="60" keywordseo="demographics">demographics</keyword> also arguably favor emerging markets vis-a-vis the West.
The charts below from ISI show forecasts for how the labor forces in both the emerging and the developed world are likely to evolve.
"The more developed country total labor force will soon begin to shrink at an accelerating rate for many albeit not all developed countries," writes ISI lead analyst and head of global demographics research Dick Hokenson in a recent report. "This implies slower real GDP growth unless productivity increases at a faster rate."
<div class="image-container" style="width:800px"><div class="image">ILO, ISI</div></div>
"Although the less developed country total labor force will essentially comprise all of the net growth in the world’s labor force," says Hokenson, "the rate of increase slows from 1.86% per year from 2000-2010 to 1.43% per year this decade."
<div class="image-container" style="width:800px"><div class="image">ILO, ISI</div></div>

The Population Of Nigeria Is Set To Overtake That Of The US By 2045

Statistics show a grim future for females looking to stay on top at America's most successful companies. Although past generations may have envisioned 2013 as a better and brighter future for women, figures reveal that women in the workplace are still living in the shadow of their male counterparts.
In 2011 there were only 15 female CEOs in Fortune 500's list of America's largest corporations. When 2012 came to a close, the <a href="http://money.cnn.com/magazines/fortune/fortune500/2012/ceos/" title="number of female CEO's">number of female CEOs</a> at the U.S.' top companies did not improve much, only reaching 17. Some celebrate this figure as record-breaking, others are worried that 17 out of 500 is hardly a statistic to rejoice over.
The U.S isn't the only country keeping women on the sidelines, it's a worldwide phenomenon. Since the financial crisis hit, not only are women not climbing up the corporate ladder, they aren't entering the work force at all. A recent International Labour Organization (ILO) report on <a href="http://www.ilo.org/global/research/global-reports/global-employment-trends/WCMS_195447/lang--en/index.htm" title="Global Employment Trends for Women">Global Employment Trends for Women</a> is not optimistic about the future of women in the work place. In 2007, before the financial crisis, the female unemployment rate was 5.8 percent, compared to 5.3 percent for men. By the time 2011 rolled around, men disproportionately took the lead: Women's unemployment reached 6.4 percent, well above the number for men, which was 5.7 percent. The ILO projects that this gap will remain through 2013 and beyond, as this chart shows: 

The question remains: What are governments doing to close this massive gap? A handful of nations have an idea. They believe that if companies aren't promoting women to top tier positions on their own, the answer is to make them to do it.
France, Norway, and Spain have introduced <keyword id="1781766" type="UNKNOWN" weightage="60" keywordseo="Compulsory-Quotas">compulsory quotas</keyword> in the work place to force companies to place women in leadership roles. As early as 2003, a law was passed declaring that Norwegian companies set aside 40 percent of boardroom positions for women by 2008. While Belgium, Britain, Sweden, and Germany have considered putting similar laws into effect, the European Union's executive body recently shot down a proposal to officially enact them. Marina Yannakoudakis, British member of the European Parliament is against the quotas, and <a href="http://www.ilo.org/global/about-the-ilo/newsroom/features/WCMS_192102/lang--en/index.htm" title="told the ILO">told the ILO</a> that "In the U.K. 100 women were appointed to FTSE-100 and FTSE-250 boards last year and FTSE-100 boards currently have 15.2 percent female representation. I agree that there is still a long way to go but these women were selected because they were the best people for the job. Had they made it to the top by virtue of quotas it would have been nothing short of patronizing,” Yannakoudakis says. The United States has not followed the example of its European counterparts; we haven't even seen a national discussion of these quotas. That doesn't mean that there aren't influential American women hoping that this might one day become a reality for the U.S.
<a href="http://www.nywici.org/features/women-and-quotas" title="Tekla Szymanski">Tekla Szymanski</a>, the managing editor of nywici.org argues that "quotas combat prejudice and pre-conceived opinions about someone’s ability to advance; they help fight <keyword id="43748" type="PERSON" weightage="60" keywordseo="discrimination">discrimination</keyword> and nepotism, shatter glass ceilings and old-boy-networks. Quotas should never supplant merit, skills and hard work, however."
While compulsory quotas mandating that women be promoted to top tier positions may not be a reality for the United States, it's likely Americans are bound to begin weighing the possibility sooner or later. <a href="http://www.economist.com/node/18988694" title="In a 2011 feature the Economist declared">In a 2011 feature, the Economist declared</a> that "new rules from the Securities and Exchange Commission will require firms to reveal what, if anything, they are doing to increase diversity at the top table."
That increased transparency may highlight the issue, revealing whether companies are even making an effort, and if intervention is needed. The numbers argue that the gap will take too long to close on its own. 
NOW READ: <a href="http://www.businessinsider.com/best-and-worst-countries-for-business-women-2012-11">What It's Like For Female Execs To Rise In The World's Major Job Markets</a>

It May Take Mandatory Quotas To Finally Put Women in Charge 

In its latest report, the Geneva-based <keyword id="240184" type="General" weightage="50" keywordseo="international-labour-organization" source="Orion">International Labour Organization</keyword> (<keyword id="6456249" type="General" weightage="80" keywordseo="ilo" source="Orion">ILO</keyword>) said that 50 million people were living in <keyword id="1978296" type="General" weightage="100" keywordseo="modern-slavery" source="Orion">modern slavery</keyword> in 2021. According to the latest report by the UN agency titled, 'Global Estimates of Modern Slavery', 28 million of these people were in forced labour and 22 million were trapped in forced marriage. The number of people in modern slavery has risen significantly in the last five years -- 10 million more people were in modern slavery in 2021 compared to 2016 global estimates. Women and children remain disproportionately vulnerable, says the report. Modern slavery occurs in almost every country in the world, and cuts across ethnic, cultural and religious lines. More than half (52 per cent) of all forced labour and a quarter of all forced marriages can be found in upper-middle income or high-income countries. Regarding forced labour, most cases (86 per cent) are found in the private sector. According to the report, forced labour in sectors other than commercial sexual exploitation accounts for 63 per cent of all forced labour, while forced commercial sexual exploitation represents 23 per cent of all forced labour. Almost four out of five of those in forced commercial sexual exploitation are women or girls. State-imposed forced labour accounts for 14 per cent of people in forced labour. Almost one in eight of all those in forced labour are children (3.3 million). More than half of these are in commercial sexual exploitation. The report says that an estimated 22 million people were living in forced marriage on any given day in 2021 -- an increase of 6.6 million since the 2016 global estimates. "It is shocking that the situation of modern slavery is not improving. Nothing can justify the persistence of this fundamental abuse of human rights," said ILO Director-General, <keyword id="1074528" type="General" weightage="50" keywordseo="guy-ryder" source="Orion">Guy Ryder</keyword>. <keyword id="6669543" type="General" weightage="50" keywordseo="antonio-vitorino" source="Orion">Antonio Vitorino</keyword>, IOM Director-General, said: "This report underscores the urgency of ensuring that all migration is safe, orderly, and regular. Reducing the vulnerability of migrants to forced labour and trafficking in persons depends first and foremost on national policy and legal frameworks that respect, protect, and fulfil the human rights and fundamental freedoms of all migrants, and potential migrants, at all stages of the migration process, regardless of their migration status." SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/retail-inflation-is-high-due-to-food-prices-and-an-adverse-base-effect-says-fin-min/articleshow/94167561.cms">Retail inflation is high due to food prices and an adverse base effect says Fin Min</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/a-fire-at-an-ev-showroom-has-killed-8-several-injured-while-trying-to-escape/articleshow/94167880.cms">A fire at an EV showroom has killed 8, several injured while trying to escape</a>

50 million people worldwide in modern slavery: ILO

By Yoshita Singh United Nations, Jun 12 () The COVID-19 crisis may push millions more children into child labour, including in countries like India, Brazil and Mexico, reversing progress made over the last 20 years during when it was brought down by 94 million, according to a new report. According to the new brief from the International Labour Organisation (ILO) and UNICEF titled 'COVID-19 and child labour: A time of crisis, a time to act' released on Friday, child labour decreased by 94 million since 2000, but that gain is now at risk. "Millions more children risk being pushed into child labour as a result of the COVID-19 crisis, which could lead to the first rise in child labour after 20 years of progress," the agencies said. The report, released on the occasion on World Day Against Child Labour marked on June 12, said that children already in child labour may be working longer hours or under worsening conditions and more of them may be forced into the worst forms of labour, which causes significant harm to their health and safety. The report noted that children are often the most available labour in households and when families need more financial support, they turn to children. "Parental unemployment due to economic shocks in Brazil has led children to step in to provide temporary support, for example. Similar effects have been documented in Guatemala, India, Mexico and the United Republic of Tanzania," the report said. Evidence is also gradually mounting that child labour is rising as schools close during the pandemic, the agencies said adding that temporary school closures are currently affecting more than one billion learners in over 130 countries. "Even when classes restart, some parents may no longer be able to afford to send their children to school," they said. As a result, more children could be forced into exploitative and hazardous jobs. Gender inequalities may grow more acute, with girls particularly vulnerable to exploitation in agriculture and domestic work, the brief says. "As the pandemic wreaks havoc on family incomes, without support, many could resort to child labour," ILO Director-General Guy Ryder said. "Social protection is vital in times of crisis, as it provides assistance to those who are most vulnerable. Integrating child labour concerns across broader policies for education, social protection, justice, labour markets, and international human and labour rights makes a critical difference." According to the report, COVID-19 could result in a rise in poverty and therefore to an increase in child labour as households use every available means to survive. Some studies show that a one percentage point rise in poverty leads to at least a 0.7 per cent increase in child labour in certain countries. "In times of crisis, child labour becomes a coping mechanism for many families," UNICEF Executive Director Henrietta Fore said. "As poverty rises, schools close and the availability of social services decreases, more children are pushed into the workforce. As we re-imagine the world post-COVID, we need to make sure that children and their families have the tools they need to weather similar storms in the future. Quality education, social protection services and better economic opportunities can be game changers." The agencies noted that vulnerable population groups – such as those working in the informal economy and migrant workers – will suffer most from economic downturn, increased informality and unemployment, the general fall in living standards, health shocks and insufficient social protection systems, among other pressures. The brief proposes a number of measures to counter the threat of increased child labour, including more comprehensive social protection, easier access to credit for poor households, the promotion of decent work for adults, measures to get children back into school, including the elimination of school fees, and more resources for labour inspections and law enforcement. The ILO and UNICEF also said they are developing a simulation model to look at the impact of COVID-19 on child labour globally. YAS AMS AKJ AMS AMS

COVID-19 may push millions more children into child labour, reversing decades of gains: UN

More than one in five people (almost 23 per cent) in employment worldwide have experienced <keyword id="15709508" type="General" weightage="20" keywordseo="violence-and-harassment-at-work" source="Orion">violence and harassment at work</keyword>, whether physical, psychological or sexual, according to a recent survey conducted by the International Labour Organization (ILO) and its partners. The survey, titled 'Experiences of Violence and Harassment at Work: A global first survey', published on Monday, found that only half of victims worldwide had disclosed their experiences to someone else, and often only after they had suffered more than one form of violence and harassment, reports Xinhua news agency. The most common reasons given for non-disclosure were "waste of time" and "fear for their reputation", the survey found, adding that women were more likely to share their experiences than men (60.7 per cent compared to 50.1 per cent). Globally, 17.9 per cent of employed men and women said they had experienced psychological violence and harassment in their working life, and 8.5 per cent had faced physical violence and harassment, with more men than women experiencing this. According to the survey, 6.3 per cent of the respondents reported facing sexual violence and harassment, with women being particularly exposed. The groups that the survey found most likely to be affected by different types of violence and harassment included youth, migrant workers, and salaried women and men. Young women were twice as likely as young men to have faced sexual violence and harassment, and migrant women were almost twice as likely as non-migrant women to report sexual violence and harassment. More than three out of five victims said they had experienced violence and harassment at work multiple times, and for the majority, the most recent incident took place within the last five years. The ILO recommends that countries extend and update mechanisms to effectively prevent and manage violence and harassment in the world of work, increase awareness in this regard, and at the same time enhance the capacity of institutions at all levels to deliver effective prevention, remediation and support, to build people's trust in justice and ensure victims are supported. The survey is based on interviews conducted in 2021 with nearly 75,000 employed individuals aged 15 years or older in 121 countries and territories. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/most-valuable-companies-with-least-number-of-employees-as-per-the-hurun-report/slidelist/96006513.cms">‘Most valuable companies’ with least number of employees, as per the Hurun report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/all-except-three-indian-sectoral-indices-have-outperformed-their-us-counterparts-in-2022-so-far/articleshow/96004159.cms">All except three Indian sectoral indices have outperformed their US counterparts in 2022 so far</a>

More than one in five people experience violence and harassment at work: ILO

<ul class="summary-list"><li>In December, the US <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword> lost a surprising 140,000 nonfarm payroll jobs, with <keyword id="624" type="ORGANIZATION" weightage="60" keywordseo="Women">women</keyword> taking the worst of the losses.</li><li>Recovery will likely be uneven, and experts say it's key to provide resources for the women forced out of the workforce.</li><li>This includes paid childcare and paid sick leave, according to one expert Insider talked to.</li></ul>In December 2020, the <a href="https://www.businessinsider.com/december-jobs-report-140000-payrolls-lost-unemployment-rate-coronavirus-recession-2021-1">US lost 140,000 nonfarm payroll jobs</a>, with women taking the worst of the losses.Globally, a <a href="https://www.ilo.org/global/about-the-ilo/newsroom/news/WCMS_766949/lang--en/index.htm">new report from the International Labour Organization</a> (ILO) found that women and younger workers have seen the greatest employment losses throughout the <keyword id="43587" type="ORGANIZATION" weightage="60" keywordseo="pandemic">pandemic</keyword>. In 2020, <a href="https://www.businessinsider.com/workers-lost-37-trillion-in-earnings-during-the-pandemic-2021-1">women saw employment losses of 5%, while men's losses were at 3.9%</a>"The pandemic has created a perfect storm for <keyword id="6359149" type="UNKNOWN" weightage="60" keywordseo="Working-women">working women</keyword>, targeting the service sector industries where women are overrepresented while denying them access to paid leave and affordable child care. This is particularly true for Black and Latina women who are overrepresented in the job losses and are more likely to go hungry or face eviction," the National Women's Law Center (NWLC) said in a statement to Insider. <h2>Women have already disproportionately felt the devastating effects of <keyword id="6358907" type="UNKNOWN" weightage="60" keywordseo="unemployment">unemployment</keyword></h2>The latest jobs report showed the pandemic's devastating impact on working women. Women lost a net 156,000 jobs and men gained a net 16,000 jobs, per an analysis of the most recent employment situation by the <a href="https://nwlc.org/wp-content/uploads/2021/01/December-Jobs-Day.pdf">NWLC</a>. That is, although men did lose jobs, the net number could be viewed as showing <a href="https://www.businessinsider.com/women-lost-140000-jobs-in-december-2021-1">women made up all of the 140,000 jobs lost in December 2020 </a>as noted by <a href="https://www.cnn.com/2021/01/08/economy/women-job-losses-pandemic/index.html">CNN's reporting</a>.And although the unemployment rate has declined from its peak last spring, it was still higher than before the pandemic across demographic groups. The following chart highlights the unemployment rate for three different racial groups and ethnicities for men and women:From November to December, 154,000 Black women left the labor force, according to an <a href="https://nwlc.org/wp-content/uploads/2021/01/December-Jobs-Day.pdf">analysis by the NWLC</a>. The unemployment rates for Black and Latina women who are at least 20 years old were far higher than the 6.7% overall national unemployment rate for people who are at least 16 years old, coming in at 8.4% and 9.1% respectively. At the end of the year, Black men had the highest unemployment rate at 10.4% in December, followed by Hispanic or Latina women.Read more: <a href="https://www.businessinsider.com/how-to-get-ppp-tax-credits-deductions-for-business-2021-1">PPP borrowers can now claim 6 important tax credits - a major change from the original rule</a>The departure of women from the labor force - especially women of color - <a href="https://www.businessinsider.com/coronavirus-pandemic-layoffs-exacerbated-inequality-unemployment-women-young-workers-minorities-2020-5">has been one alarming trend throughout the pandemic</a>. And, with many of those women working in industries that have been particularly hard hit, <a href="https://www.businessinsider.com/3-charts-show-december-jobs-report-devastating-for-vulnerable-workers-2021-1">those jobs may not be coming back anytime soon</a>."There won't be a one for one recovery when stay at home orders are ... lifted or we have the pandemic under control," C. Nicole Mason, the president and CEO of the Institute for Women's Policy Research (IWPR), told Insider. "For many women, especially women of color who worked in the service sector, in some of these most impacted sectors, they will have to enter new careers and professions altogether."Overall, women make up a large share of service-providing industries, either around or above half of employment in several of these industries. Some of these sectors have been greatly damaged by the pandemic, such as the leisure and hospitality industry. The following chart highlights the share of women in various industries according to the most recent <a href="https://www.bls.gov/news.release/pdf/empsit.pdf">jobs report from the Bureau of Labor Statistics:</a>According to the latest monthly release, women make up a large share of employees in the education and health services sector. That sector includes jobs in schools and hospitals, which have been severely impacted by the pandemic, according to <a href="https://www.businessinsider.com/maps-teacher-education-jobs-percent-change-states-2020-11">Insider's previous reporting</a> on changes in US teacher employment and <a href="https://www.businessinsider.com/hospitals-are-facing-economic-turmoil-in-the-coronavirus-pandemic-2020-4">Insider's</a> reporting in April on job cuts and furloughs in hospitals. Women also made up 53.1% of employment in the leisure and hospitality industry, one of the hardest-hit sectors throughout the pandemic.For instance, the <a href="https://nwlc.org/wp-content/uploads/2021/01/December-Jobs-Day.pdf">National Women's Law Center</a> noted in its recent analysis that "the leisure and hospitality sector lost 498,000 jobs in December. Women accounted for 56.6% of these job losses." Most of this December loss was within the industry was in food services and drinking places, according to the <a href="https://www.bls.gov/news.release/pdf/empsit.pdf">Bureau of Labor Statistics</a>.<h2>What needs to be done to see unemployment recovery</h2>Mason said that measures like paid childcare, funding for small businesses and job creation, <a href="https://www.pewresearch.org/fact-tank/2020/03/12/as-coronavirus-spreads-which-u-s-workers-have-paid-sick-leave-and-which-dont/">paid sick leave</a>, and education for new industries are crucial steps for supporting the women impacted by unemployment."There are going to be some women who are not able to immediately go back to work," she said. For those women and their families, the new administration should be "making sure they have the economic support they need so that they don't fall further into economic despair."The ILO report notes that, of those facing employment losses, women were more likely to become "inactive," meaning that they paused looking for work or dropped out of the labor force completely. <a href="https://www.businessinsider.com/pandemic-child-care-closures-could-be-terrible-for-womens-careers-2020-5">That may be in part to shuttering (and expensive) childcare options</a>, <a href="https://www.businessinsider.com/married-women-are-losing-jobs-highlighting-coronavirus-inequities-2020-10">as 1 million married women lost their jobs during back to school season</a>.In terms of recovery, the ILO report recommends bolstering aid and support for the hardest-hit workers and sectors.And Mason is optimistic about the Biden administration and their priorities when it comes to helping the millions of unemployed women. But the pandemic has still left millions of workers - especially women of color - out of work, and without relief."I think the most important thing to know is that this isn't political. What's happening - the pandemic, the economic downturn - translates into hardship for families across the country," Mason said. "We've seen long food lines, people struggling with housing insecurity, so much uncertainty, while those at the top have been fighting a political battle."

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50 million people worldwide in modern slavery: ILO

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More than one in five people experience violence and harassment at work: ILO

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Working women are still being disproportionately hurt by the pandemic recession

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