{"id":217367,"date":"2022-12-06T20:38:48","date_gmt":"2022-12-06T15:08:48","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=217367"},"modified":"2022-12-06T20:38:48","modified_gmt":"2022-12-06T15:08:48","slug":"the-lingering-crisis-of-labour-post-pandemic","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/the-lingering-crisis-of-labour-post-pandemic\/","title":{"rendered":"The lingering crisis of labour post-pandemic"},"content":{"rendered":"\n

Source<\/strong>: The post is based on an article\u00a0\u201cThe lingering crisis of labour post-pandemic\u201d <\/strong>published in The Hindu<\/strong>\u00a0on\u00a06th<\/sup> December 2022<\/strong>.<\/p>\n

Syllabus: GS 3 \u2013 Economic Development<\/strong><\/p>\n

Relevance: <\/strong>rising income inequalities post-pandemic<\/strong><\/p>\n

News: <\/strong>\u00a0Global Wage Report 2022-2023<\/strong> and Asia-Pacific Employment and Social Outlook 2022<\/strong> are the two reports released by the International Labour Organisation (ILO)<\/strong> recently. Both these reports gave an indication of the global employment scenario post-pandemic.<\/p>\n

What are the findings of the report?<\/strong><\/p>\n

Growth:<\/strong> As per the reports, the nominal wages in India<\/strong> rose to \u20b917,017 per month in 2021 from \u20b94,398 in 2006.<\/p>\n

However, the real wage growth<\/strong> in India declined to -0.2% in 2021 from 9.3% in 2006 when inflation is taken into consideration. This negative growth in India started after the pandemic.<\/p>\n

The growth for China<\/strong> also decreased from 5.6% in 2019 to 2% in 2022 and for Pakistan<\/strong> the growth was -3.8%.<\/p>\n

Cost of Living:<\/strong> The reports highlighted that the increasing cost of living has the greatest impact on lower-income earners<\/strong> because they have to spend most of their income on rising prices of essential goods and services.<\/p>\n

Employment:<\/strong> As per the report, only high-skill occupations<\/strong> saw a recovery after the COVID-19 crisis at the Asia-Pacific level which raises concerns about rising inequality<\/strong>. There is an employment gain of 1.6% among high-skill workers between 2019 and 2021 but there is no such substantial gain among low-to-medium-skill workers.<\/p>\n

Gap amongst G-20 countries:<\/strong> There is a significant gap in the average level of real wages between advanced G-20 countries and emerging G-20 countries such as India.<\/p>\n

What can be the course of action?<\/strong><\/p>\n

The ILO in reports have provided the following remedies for the problem \u2013<\/p>\n

    \n
  1. a)<\/strong> improvement in the nominal wages of the employee will help in safeguarding the standard of living of households and cushion them against the rising inflation in the future, b)<\/strong> there is a need to strengthen labour market institutions and wage policies, c)<\/strong> there is a need to create decent formal wage employment for equitable and sustainable wage growth, d)<\/strong> decrease in gender pay gap with a multilateral approach that focus on mitigating climate change, decreasing inequalities, poverty, etc. is needed.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    Source: The post is based on an article\u00a0\u201cThe lingering crisis of labour post-pandemic\u201d published in The Hindu\u00a0on\u00a06th December 2022. Syllabus: GS 3 \u2013 Economic Development Relevance: rising income inequalities post-pandemic News: \u00a0Global Wage Report 2022-2023 and Asia-Pacific Employment and Social Outlook 2022 are the two reports released by the International Labour Organisation (ILO) recently. Both… Continue reading The lingering crisis of labour post-pandemic<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[216,10498],"class_list":["post-217367","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-3","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/217367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=217367"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/217367\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=217367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=217367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=217367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}