Vulnerable Employment

The International Labour Organization (ILO) forecast a worldwide unemployment rate of 5.5% this year, a marginal improvement on the 5.6% recorded in 2017.

"Even though global unemployment has stabilized, decent work deficits remain widespread: the global economy is still not creating enough jobs", the organization's director-general, Guy Ryder, said in a statement. 

"The significant progress achieved in the past in reducing vulnerable employment has essentially stalled since 2012", the ILO said.   "Vulnerable employment" is a category that includes informal work arrangements with little or no social and contractual protections. The problem is most acute in the developing world, where 3 out of every 4 workers have a "vulnerable" employment status.

“A large part of the jobs created in the region remain of poor quality: vulnerable employment affects almost half of all workers in Asia Pacific, or more than 900 million men and women.

“Projections indicate that 72% of workers in Southern Asia, 46% in South-Eastern Asia and the Pacific, and 31% in Eastern Asia will be vulnerable employment by 2019, showing very little change from 2017,” the ILO said. The poor quality of jobs and high informality, the ILO said, is key for the high level of “working poors” or those living with less than $3.10 per day

ILO economist Stephan Kuhn, pointed out that 40% of all employed people in the developing world still live in "extreme poverty".
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