By Categories: Economy, Editorials

The mismatch between the number of people who annually reach working age and the availability of jobs has been a matter of constant concern globally during the better part of the period since the global financial crisis of the last decade. The International Labour Organisation’s latest forecast that a few more millions are set to join the pool of the jobless during this year and the next, is in line with its own previous estimates.

In any case, with the growth in global gross domestic product registering a six-year low in 2016, expectations of generation of new jobs were always going to be low. But a no-less-serious concern in the ‘World Employment and Social Outlook 2017’ pertains to the stubborn challenge of reducing the extent of vulnerability that currently affects about 42 per cent of the total working population. This concern refers to lack of access to contributory social protection schemes among the self-employed and allied categories, unlike their counterparts in the wage-earning and salaried classes. The former segment accounts for nearly 50 per cent of workers in the emerging economies and 80 per cent in developing countries.

The hardships faced by these 1.4 billion working people will become more apparent when seen in the backdrop of either the absence of strong welfare legislation or its effective enforcement in a majority of these countries. It is no surprise that besides Sub-Saharan Africa, South Asia has been the most affected by such volatile conditions.

 To be sure, the overall share of these vulnerable workers dropped from 46 per cent of total employment in 2015 to 42 per cent in 2016. But the latest report projects only a mere 0.2 percentage point rate of reduction through 2017-18. In comparison, it says the proportion of the population in jobs characterised by vulnerability declined by an average annual rate of 0.5 percentage points in the previous decade. As a result of the relatively slow reversal rates in more recent years, these numbers are projected to increase globally by 11 million a year.
The other implication of an increase in the number of people facing vulnerable working conditions is the real danger this poses of a slowdown in reducing the incidence of working poverty. It is this celebrated rise in income levels in the lowest rungs of the population that lent the current phase of globalisation the social and political legitimacy, a phase that has otherwise posed the risks of economic dislocation and unprecedented mass migration. The challenge for policymakers worldwide is to ensure that incomes do not fall below the levels of basic subsistence as the world marches towards the poverty reduction targets under the 2030 Sustainable Development Goals.
Share is Caring, Choose Your Platform!

Recent Posts

  • Darknet

    Definition:

    Darknet, also known as dark web or darknet market, refers to the part of the internet that is not indexed or accessible through traditional search engines. It is a network of private and encrypted websites that cannot be accessed through regular web browsers and requires special software and configuration to access.

    The darknet is often associated with illegal activities such as drug trafficking, weapon sales, and hacking services, although not all sites on the darknet are illegal.

    Examples:

    Examples of darknet markets include Silk Road, AlphaBay, and Dream Market, which were all shut down by law enforcement agencies in recent years.

    These marketplaces operate similarly to e-commerce websites, with vendors selling various illegal goods and services, such as drugs, counterfeit documents, and hacking tools, and buyers paying with cryptocurrency for their purchases.

    Pros :

    • Anonymity: Darknet allows users to communicate and transact with each other anonymously. Users can maintain their privacy and avoid being tracked by law enforcement agencies or other entities.
    • Access to Information: The darknet provides access to information and resources that may be otherwise unavailable or censored on the regular internet. This can include political or sensitive information that is not allowed to be disseminated through other channels.
    • Freedom of Speech: The darknet can be a platform for free speech, as users are able to express their opinions and ideas without fear of censorship or retribution.
    • Secure Communication: Darknet sites are encrypted, which means that communication between users is secure and cannot be intercepted by third parties.
    •  

    Cons:

    • Illegal Activities: Many darknet sites are associated with illegal activities, such as drug trafficking, weapon sales, and hacking services. Such activities can attract criminals and expose users to serious legal risks.
    • Scams: The darknet is a hotbed for scams, with many fake vendors and websites that aim to steal users’ personal information and cryptocurrency. The lack of regulation and oversight on the darknet means that users must be cautious when conducting transactions.
    • Security Risks: The use of the darknet can expose users to malware and other security risks, as many sites are not properly secured or monitored. Users may also be vulnerable to hacking or phishing attacks.
    • Stigma: The association of the darknet with illegal activities has created a stigma that may deter some users from using it for legitimate purposes.