'We must act collectively and be ready to learn from each other'
The International Labour Organisation (ILO) is calling for inclusive labour market reforms to ensure that progress in global labour markets is shared equitably.
"It is important that we address ways to foster an inclusive labour market that works for all people, based on decent work and social justice principles," ILO Director-General Gilbert F. Houngbo said.
"We must act collectively and be ready to learn from each other. There is no single recipe; there is no magic bullet."
Houngbo was speaking at the second Global Labour Market Conference (GLMC) in Riyadh, Saudi Arabia.
In his address to the conference, the ILO Director-General recognised the significant progress in global labour markets.
The global unemployment rate is steady at five per cent, rising slightly from 2023 as the labour force grew throughout the year, the ILO previously noted.
However, youth unemployment showed little improvement and remained high at 12.6%.
According to Houngbo, it is important to address the rising unemployment among young people, as well as persistent work deficits, and the disproportionate impact of these issues on women, youth, and other vulnerable populations.
Among the factors that bring about challenges and opportunities are:
Digitalisation
Climate action
Just transition efforts
Demographic changes
Other factors that pressure the labour markets include global crises, such as armed conflicts, extreme weather events, and political instability, which have an impact on jobs and livelihoods.
Addressing labour market challenges will need social dialogue, such as collaboration among governments, employers, and worker representatives, according to Houngbo.
He added that prioritising structural improvements to labour markets is also crucial, as well as investing in education and upskilling to meet the evolving demands of AI and the green economy.
The Director-General further stressed the importance of working collectively toward fostering equitable access to opportunities, building effective social protection systems, as well as ensuring that efforts to achieve sustainable and just transitions are inclusive.
"It is through initiatives like this that we can advance our collective goal of realising Decent Work and Social Justice," he said.
