GENEVA
\nInternational Labour Organisation (ILO) Director General, Guy Ryder has called for urgent action to create decent work in the green, care and digital economies to contribute to a just transition to carbon neutral economies and to prevent inequalities from becoming entrenched.
\nIn statements to the Spring meetings of the IMF and the World Bank Group, Ryder said that implementing the UN Secretary-General\u2019s Global Accelerator on Jobs and Social Protection for a Just Transition could create at least 400 million jobs by 2030, primarily in the care and green economies, and would extend social protection floors to over 4 billion people currently not covered.
\nA transformative package of care policies, based on universal access, could generate close to 300 million jobs, create a pathway for building a better and more gender equal world of work, and ensure that no-one is left behind in the transition to net zero economies, he said.
\nTo encourage a transition where benefits are shared widely and the most vulnerable are supported, the financial sector could deploy several levers, \u201cfor example, integrating decent work fully in financial investments, engaging with investees and clients to promote social dialogue, ensuring access to finance for SMEs in green sectors, and robust just transition planning,\u201d he added.
\nFostering a people-centred recovery is all the more urgent as the outlook for 2022 remains fragile due to the rising Covid-19 caseloads, higher inflation and the impact of the Russian aggression against Ukraine on the global economy.
\n\u201cThe labour market recovery in 2022 will be slower than initially projected and global unemployment is expected to remain above pre-Covid-19 levels until at least 2023,\u201d added Ryder. Particularly worrisome, are the deepening inequalities within and among countries, damage that is \u201clikely to require years to repair, with potential long-term consequences for labour force participation, household incomes and social cohesion.\u201d
\n\u201cGoing forward, policymakers face difficult choices,\u201d he said, predicting that calls for monetary and fiscal policy will tighten at a faster rate in efforts to curb inflation. \u201cYet, the economic recovery still requires macroeconomic support to be sustainable.\u201d
\nAchieving a human-centred recovery will require careful coordination and balancing of macroeconomic policies so that they provide sufficient support for investing in people and the planet, while reining in inflation.
\nSupport remains essential to invest in a transformative agenda for gender equality, in the protection of workers by guaranteeing fundamental rights at work and health and safety at work and in the provision of universal social protection.
\nInvolving workers and employers\u2019 representatives in decision-making through social dialogue ensures that these investments are mutually beneficial to firms and workers and have positive macroeconomic repercussions and spillover effects. The ILO will issue new unemployment data in May 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"
GENEVA International Labour Organisation (ILO) Director General, Guy Ryder has called for urgent action to create decent work in the green, care and digital economies to contribute to a just transition to carbon neutral economies and to prevent inequalities from becoming entrenched. In statements to the Spring meetings of the IMF and the World Bank […]<\/p>\n","protected":false},"author":2,"featured_media":256836,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[5831,186,6254,367],"class_list":{"0":"post-256809","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-greener","9":"tag-imf","10":"tag-international-labour-organisation","11":"tag-world-bank"},"yoast_head":"\n