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The global economy today has grown to a example of link, note the use of the scale unprecedented in history. Aided by new technologies, people, capital and goods are moving between countries with an ease and at a speed that have created an interdependent global economic network affecting virtually every person on the planet.
Chapter title 2
Globalization has created opportunities and benefits for many, yet at the same time millions of workers and employers worldwide have had to face new challenges. The globalized economy has displaced workers and enterprises to new locations, resulted in the sudden accumulation or flight of capital, and caused financial instability in certain regions. Despite initial optimism, globalization has not ushered in an era of prosperity for all. In 2001 it was estimated that virtually half of the world's population survived on US$2 or less per day, while some 1.1 billion people, or 21% of the world's population, were living on US$1 a day or less. No nation is immune: in 20 industrialized countries, for example, in the mid-1990s over 10% of the population on average was living below the poverty line.
Chapter title H3
Inequality within many countries and between the world's richest and poorest nations has also grown exponentially over the last few decades. In 1960 the income gap between the wealthiest fifth and the poorest fifth of the world's population was 30 to 1. By 1999, it had increased to 74 to 1. In 1995, average GDP per capita in the richest 20 countries was 37 times the average in the poorest 20 - a gap that doubled in 40 years.
Chapter title H3
- The proportion of boy and girl child workers, in the age group 5-17 is respectively 73.5 per cent and 26.5 per cent.
- The total number of working children aged 5-17 years in rural areas is estimated at 6.4 million as against 1.5 million in urban areas. 93.3 per cent of all working children operate in the informal sector. 4.5 million (56.4 per cent) are engaged in agriculture, 2 million (25.9 percent) are engaged in the services sector, and 1.4 million (17.7 per cent) are engaged in industry.
- 93.3 per cent of all working children operate in the informal sector. 4.5 million (56.4 per cent) are engaged in agriculture, 2 million (25.9 percent) are engaged in the services sector, and 1.4 million (17.7 per cent) are engaged in industry.
Chapter title 2
Today, the ILO has developed a comprehensive Decent Work Agenda which takes up many of the same challenges that the organization faced at its inception. The Decent Work Agenda aims to achieve decent work for all by promoting social dialogue, social protection and employment creation, as well as respect for international labour standards. The standards have grown into a comprehensive system of instruments on work and social policy, backed by a supervisory system designed to address all sorts of problems in their application at the national level. They are the legal component in the ILO's strategy for governing globalization, promoting sustainable development, eradicating poverty, and ensuring that people can work in dignity and safety.
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