The Director-General of the International Labour Organisation, Gilbert Houngbo, has called for a bold rethinking of global economic policies to prioritise decent work, labour rights, and inclusive growth.

Speaking at the International Monetary Fund and World Bank Spring Meetings in Washington, DC, Houngbo stressed the need for an integrated approach that positions quality employment as a central driver of prosperity and resilience.

“The global economy stands at a critical juncture, and the moment for decisive action is now,” Houngbo told international policymakers and financial leaders.

He warned that persistent deficits in decent work, particularly high informality, youth unemployment, and widening gender disparities, pose significant threats to global stability and development.

“Our world is filled with persistent decent work deficits,” he said, pointing to the lack of social protection for informal workers as a major concern.

“With an estimated 1.2 billion young people projected to enter the global workforce in the coming decades,” he noted.

“The connection between quality employment and prosperity can hardly be more evident or more urgent,” Houngbo added.

Houngbo criticised what he described as a fragmented policy approach where employment, labour rights, and economic growth are treated as competing priorities.

“Too often, policymakers have viewed employment generation, rights protection, and economic growth as separate or even competing priorities, requiring difficult trade-offs.

“This fragmented perspective has led to policy approaches that ultimately undermine progress across all three dimensions,” he mentioned.

He further called for macroeconomic strategies that treat decent work not as an afterthought but as a fundamental objective.

“Monetary and fiscal policies must evolve to recognise employment outcomes as key objectives alongside macroeconomic stability,” Houngbo said.

Strategic investment in critical sectors like the green economy, care services, education, and digital infrastructure was also emphasised. Such investments, he argued, are not only socially necessary but also help cushion economies against external shocks.

The ILO chief also underlined the role of labour rights and robust social protection systems as economic stabilisers.

“Social protection systems maintain consumption during downturns, prevent poverty, reduce inequality, and provide crucial income security for workers navigating increasingly volatile labour markets,” he noted.

Houngbo spotlighted the ILO’s Global Coalition for Social Justice, launched in 2023, as a vital multilateral initiative addressing both social and economic challenges. With more than 300 partners globally, the Coalition fosters collaboration and concrete policy actions in tandem with international financial institutions.

Highlighting strengthened partnerships with the IMF and the World Bank since 2019, Houngbo said these collaborations are deepening the impact of social protection and employment policies worldwide.

“The ILO’s integrated approach linking jobs, rights, and growth provides a framework for addressing these challenges into the future. By recommitting to social justice as the cornerstone of economic policy, we can establish decent work as the path to prosperity for all,” he stated.