More workers will be forced to accept lower quality and poorly paid jobs this year as a result of the global economic slowdown, according to a report from the International Labour Organization (ILO).
In its latest assessment of the state of the labour market, the Geneva-based ILO warned that “high and persistent” uncertainty over the state of the global economy was depressing business investment, eroding real wages and pushing workers back into informal employment, which can involve street vending, housekeeping or picking through landfills.
Overall, the organisation is forecasting that global employment will grow at only half the rate seen in 2022, at just 1% for 2023. The slowdown will not only impact further progress towards reducing poverty levels, but also stall the previous rise in living standards for global workers who will have fewer opportunities available to them.
“The current slowdown means that many workers will have…
