World Employment and Social Outlook: Trends 2020 (WESO)

WHY IN NEWS?

Recently, the International Labour Organisation (ILO) has released the World Employment and Social Outlook: Trends 2020 (WESO) report. The annual WESO Trends report analyses key labour market issues, including unemployment, labour underutilisation, working poverty, income inequality, labour income share and factors that exclude people from decent work.

ABOUT WORLD EMPLOYMENT AND SOCIAL OUTLOOK

• Global Unemployment: The number of people unemployed around the world stands at some 188 million.
• Some 267 million young people aged 15-24 are not in employment, education or training, and many more endure substandard working condition.
• Working Poverty: Working poverty is defined as earning less than USD 3.20 per day in purchasing power parity terms.
• It affects more than 630 million workers or one in five of the global working population.
• Unpaid Work: 165 million people do not have enough paid work, and 120 million have either given up actively searching for work or otherwise lack access to the labour market.
• Almost half a billion people are working fewer paid hours than they would like or lack adequate access to paid work.

Prelims Question

Q. World Employment and Social Outlook: Trends 2020 (WESO) report which was recently in news was released by?
a)World Bank
b)IMF
c)WEF
d)International Labour Organization

Answer to the Prelims Question