#Saudi Arabia #Riyadh #Global Labor Conference #Youth Unemployment #Labor Market Charter

Global Labor Charter Unveiled at the Global Labor Market Conference

The second edition of the Global Labor Market Conference (GLMC) commenced in Riyadh, Saudi Arabia, featuring a significant ministerial roundtable chaired by the Minister of Human Resources and Social Development, Eng. Ahmed bin Sulaiman Al Rajhi. Over 40 labor ministers from various regions, including the G20, Europe, Asia, the Middle East, Africa, and the Americas were in attendance, joined by the Director General of the International Labour Organization (ILO), Gilbert Houngbo.

In his opening remarks, Minister Al Rajhi welcomed attendees and reaffirmed Saudi Arabia's dedication to spearheading global discussions on labor market evolution through this vital conference. He described the event as a strategic forum aimed at nurturing international collaboration and generating creative solutions to contemporary labor issues, while ensuring they are sustainable in the midst of rapid technological changes.

Al Rajhi encouraged the participating ministers to utilize the roundtable as a dynamic space for sharing insights and experiences. He emphasized the importance of addressing key labor market challenges and showcasing remarkable achievements within their countries. The overarching message was clear: collaborative action and idea exchange among nations could yield transformative effects, subsequently supporting the youth and paving the way for a more inclusive and sustainable future.

During the meeting, ministers exchanged ideas and experiences, discussing pivotal trends and urgent challenges within labor markets. These conversations established a solid foundation for developing strategies aimed at fostering future transformations and enhancing the sustainability of labor markets.

At the conclusion of the event, the Global Labor Charter was unveiled. This charter articulates a comprehensive vision designed to bolster the flexibility, inclusiveness, and sustainability of labor markets globally. Among its objectives, the charter specifically addresses critical issues such as youth unemployment, the impacts of technological progress, and the necessity for workforce adaptability in an ever-evolving global economy.

Key initiatives highlighted in the charter include efforts to facilitate the transition of youth from education to employment, preparing the workforce for the demands of an AI-driven world, and investing in human capital through upskilling and reskilling programs. Furthermore, it stresses the need for labor market flexibility to accommodate various forms of employment, including remote and part-time work, while simultaneously supporting job creation and the growth of small and medium-sized enterprises (SMEs).

The charter also advocates for increased employment opportunities for marginalized populations, including individuals with disabilities and the long-term unemployed. A comprehensive data system is suggested to monitor employment trends, skills, wages, and workforce demographics to ensure informed and sustainable transformations in the labor market.

The Global Labor Market Conference stands as a premier global venue, bringing together governments, international organizations, the private sector, and experts to shape the future of labor markets. It not only anticipates future transformations but also proposes actionable solutions to existing challenges, while fostering a strategic vision aimed at enhancing the sustainability and growth of labor markets at both localized and international levels.