Greater Social Justice Is Cornerstone Of More Sustained Recovery, ILO Tells World Bank/IMF
The International Labour Organization (ILO) Director-General, Gilbert Houngbo, emphasized the critical role of social justice in achieving a sustained global recovery during the recent World Bank and IMF Spring Meetings in Washington D.C. He called for a strengthened focus on social policies, institutions, and dialogue to bolster investments.
At the heart of this initiative is the Global Coalition for Social Justice, which already boasts over 200 partners committed to creating a balance among economic, social, and environmental aspects of sustainable development. The coalition aims to foster strong, inclusive development through global solidarity and coordinated action from various stakeholders.
Houngbo stressed the importance of international financial institutions in ensuring that development efforts address not just immediate economic challenges but also pave the way for long-term social and economic resilience, particularly in developing nations.
While highlighting key findings from the ILO World Employment and Social Outlook: Trends 2024 report, Houngbo raised concerns about declining real wages in many G20 countries, alongside an increase in extreme poverty among workers globally. The evolving landscape of the world of work, influenced by AI and the climate transition, presents challenges that require proactive policy responses.
The implications of AI on the labor market, as highlighted in an ILO report, indicate potential job losses due to automation. Attention must be directed towards managing AI’s impact in the workplace to prevent rights violations.
The advancement of AI technology poses risks to millions of jobs globally, signaling the need for careful management to safeguard workers’ rights and ensure a fair transition. The global community must work together to address these challenges and promote sustainable, inclusive recovery efforts for the benefit of all.
In conclusion, a collective effort is required to address the complex interplay of economic, social, and environmental factors to build a more resilient and just global economy. Embracing social justice as a cornerstone of recovery is essential for achieving sustainable development and ensuring a brighter future for all.
