On, ILO Director-General Michel Hansenne, sent a letter to the Member States with a view to obtaining universal ratification of these fundamental conventions, of which there were seven at the time. It was in this favourable international context that ILO defined as “fundamental” the conventions dealing with matters considered to be fundamental principles and rights at work. The World Summit for Social Development, held in Copenhagen in March 1995, bolstered ILO’s efforts by inviting the governments to protect and promote “respect for the fundamental rights of workers”. He says Russia's invasion of Ukraine is affecting and disrupting the labor markets and economies of neighboring countries.In June 1994, at the 81st Session of the International Labour Conference, a clear consensus emerged among ILO’s constituents to step up promotion of fundamental social rights.
Houngbo says the impact of the war is being felt globally in rising food and fuel prices, increased food insecurity and poverty. The ILO estimates 2.4 million Ukrainians have lost their jobs this year because of the conflict. In addition to the terrible humanitarian cost, the report notes the war in Ukraine is having a negative impact on the country's economy and labor market. "For China, what essentially we are saying is the disruption caused namely by quite very strict measures taken in reference to the management of the COVID-19 situation … also the global tightening of the fiscal monetary measures and the impact that could have on the domestic consumption," Houngbo said. ILO Director-General Gilbert Houngbo says this downward trend is largely driven by the economic disruption in China and the fallout from the war in Ukraine. This is equivalent to a loss of 40 million full-time jobs.
The ILO estimates the number of hours worked globally in the third quarter of this year was 1.5 percent below pre-pandemic levels.
It says signs of global labor recovery seen early this year have withered away. The report says multiple overlapping crises - including the highest inflation rates for a decade, tighter monetary policies, and increasing debt burdens - are sapping consumer and business confidence. The ILO Monitor on the World of Work published Monday finds worsening labor market conditions are affecting both employment creation and the quality of jobs. The International Labor Organization warns multiple economic and political crises, largely triggered by the war in Ukraine and economic disruption in China, are threatening the recovery of the global labor market.
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