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- Decent work must be an explicit target of economic policy, Gilbert F. Houngbo tells IMF and World Bank Spring Meetings.
GENEVA, Switzerland, (ILO News) – Director-General of the International Labour Organization (ILO), Gilbert F. Houngbo, has called for a unified strategy linking job creation, labour rights and economic growth to build a fairer and more resilient global economy.
In statements delivered to the International Monetary Fund (IMF) and World Bank Spring Meetings in Washington DC, Houngbo emphasized the urgency of rethinking economic policy priorities. “The global economy stands at a critical juncture, and the moment for decisive action is now,” he said.
Houngbo warned of persistent decent work deficits that threaten global prosperity, including high levels of informality, youth unemployment and widening gender disparities. “Our world is filled with persistent decent work deficits. Among them is the virtual absence of social protection for workers in the informal economy.” He also underscored the demographic urgency, with 1.2 billion young people expected to enter the workforce in the coming decades. “The connection between quality employment and prosperity can hardly be more evident or more urgent.”
The director-general highlighted the importance of managing economic uncertainties, including those driven by global trade dynamics. “Shifts in trade policies can lead to complex and uneven impacts across economic sectors, skill levels, and regions. ILO research shows that when trade patterns change, resource reallocation reverberates across global supply chains, with both job creation and displacement effects that vary across industries.”
Addressing policy fragmentation, Houngbo said:
“Too often, policymakers have viewed employment generation, rights protection, and economic growth as separate or even competing priorities, requiring difficult trade-offs. This fragmented perspective has led to policy approaches that ultimately undermine progress across all three dimensions.” He called for macroeconomic policies that treat decent work as a central objective. “Monetary and fiscal policies must evolve to recognize employment outcomes as key objectives alongside macroeconomic stability.”
He emphasized the need for strategic sectoral investment. “Investments in the green economy, care services, education, and foundational digital infrastructure not only respond to long-term societal needs but also provide insulation from external economic shocks.” Labour rights and social protection, he stressed, are also economic stabilizers. “Social protection systems maintain consumption during downturns, prevent poverty, reduce inequality, and provide crucial income security for workers navigating increasingly volatile labour markets.”
On the ILO’s Global Coalition for Social Justice, launched in 2023 as an inclusive multilateral response to pressing social and economic challenges, Houngbo said:
“The Global Coalition creates a collaborative space for action, dialogue, and advocacy in which partners shape opportunities for concrete actions and tangible outcomes.”
The Coalition, which now includes over 300 partners, complements partnerships with international financial institutions. “Since 2019, the ILO and IMF have deepened their partnership on sustainable financing for social protection,” he emphasized. “Similarly, cooperation between the ILO and World Bank … is reinforcing social protection systems while enhancing employment policies.”
Houngbo concluded: “The ILO’s integrated approach – linking jobs, rights, and growth – provides a framework for addressing these challenges into the future. By recommitting to social justice as the cornerstone of economic policy, we can establish decent work as the path to prosperity for all.”
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