A recent report by the International Labor Organization sheds light on the pressing issues facing workers in the Asia-Pacific region. The report emphasizes the need for governments to prioritize education, training, and social safety nets to boost incomes and ensure social equity as economies in the region slow down and populations age.
One of the key findings of the report is the slowdown in productivity growth, which has had a negative impact on incomes and purchasing power for the region's 2 billion workers. The prevalence of informal employment, such as day labor, leaves many workers without the necessary protections that come with formal jobs.
Despite some progress in raising incomes and improving productivity in the past, the report warns that challenges lie ahead. Unemployment rates among young people not in school are alarmingly high, and the increasing use of automation technology poses a threat to certain job sectors, particularly impacting women in clerical and IT roles.
Furthermore, the aging population in the region presents a significant challenge, with the ratio of elderly individuals to working-age individuals expected to double by 2050. This demographic shift, coupled with a mismatch between job requirements and workers' skills and education levels, could exacerbate labor shortages in the future.
The report also highlights the need for upskilling and productivity improvements to address these challenges. It notes that a significant portion of workers in the region have educational levels that do not align with their occupations, indicating a need for better alignment between skills and job requirements.
Other key findings include the high number of hours worked by individuals in the region, the prevalence of extreme poverty among some workers, and the projected increase in demand for long-term care workers by 2050.
In conclusion, the report underscores the importance of investing in education, training, and social protections to ensure a more equitable and prosperous future for workers in the Asia-Pacific region.
