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UPSC » Daily News Analysis ‘Latest ILO study links AI to dip in labour income ‘: 5 September

Daily News Analysis ‘Latest ILO study links AI to dip in labour income ‘: 5 September

According to the International Labour Organisation (ILO), the "World Employment and Social Outlook: September 2024 Update" reveals that rising inequality is linked to stagnant labor income, exacerbated by the impact of artificial intelligence and the COVID-19 pandemic.

Table of Content

More about the News:

  • The decline is driven by artificial intelligence (AI), which has boosted productivity but reduced workers’ income share.
  • The global labor income share dropped by 0.6 percentage points from 2019 to 2022 and has stayed flat since, deepening a long-term decline.
  • The ILO emphasises for stronger policies, including better collective bargaining, labor rights, and fairer economic distribution.
  • The report notes slow progress on SDGs as the 2030 deadline nears.

About International Labour Organisation (ILO):

  • 1919: Established as part of the Treaty of Versailles that ended World War I, to reflect the belief that universal and lasting peace can be accomplished only if it is based on social justice.
  • It is a specialized agency of the United Nations (UN) dedicated to improving labour conditions and living standards throughout the world.
  • 1946: the ILO became a specialized agency of the United Nations.
  • Members: The ILO has 187 member states.
  • Headquarters: Geneva, Switzerland.

Why in News?

  • According to the International Labour Organisation (ILO), the “World Employment and Social Outlook: September 2024 Update” reveals that rising inequality is linked to stagnant labor income, exacerbated by the impact of artificial intelligence and the COVID-19 pandemic.