International Labor Organization - ILO

DEFINITION of 'International Labor Organization - ILO'

A United Nations agency that strives to serve as a uniting force between governments, businesses and workers to "promote decent work throughout the world." The organization was founded on the belief that peace in the workplace is essential to prosperity; it emphasizes the need for workers to enjoy "conditions of freedom, equity, security and human dignity" through their employment.

For nearly 100 years, the ILO has promoted international labor standards through its field offices in Africa, Latin America and the Caribbean, the Arab States, Asia and the Pacific, and Europe and Central Asia. The organization provides training on fair employment standards, provides technical cooperation for projects in partner countries, analyzes labor statistics and publishes related research, and regularly holds events and conferences to examine critical social and labor issues. The ILO was awarded the Nobel Peace Prize in 1969.

BREAKING DOWN 'International Labor Organization - ILO'

The ILO has 18 themes that drive its work:

• Child labor
• Decent work
• Economic and social development
• Employment promotion
• Employment security
• Equality and discrimination
• Forced labor
• Freedom of association and the right of collective bargaining
• HIV/AIDS
• Individual sectors and industries
• Labor law
• Labor migration
• Safety and health at work
• Skills, knowledge and employability
• Social security
• Workers and employers organizations, tripartism and social dialog
• Working conditions
• Youth employment

RELATED TERMS
  1. Department Of Labor (DOL)

    The Department of Labor is a U.S government cabinet body responsible ...
  2. Demand For Labor

    A concept that describes the amount of demand for labor that ...
  3. Employment Situation Report

    A monthly report compiling a set of surveys in an attempt to ...
  4. Collective Bargaining

    The process of negotiating the terms of employment between an ...
  5. Labor Union

    An organization intended to represent the collective interests ...
  6. Geographical Labor Mobility

    This refers to the level of freedom that workers have to relocate ...
Related Articles
  1. Markets

    Employability, The Labor Force And The Economy

    Individuals do not have absolute control of their employability since employability is also affected by market and economic conditions.
  2. Personal Finance

    Hiring? Regulations Small Businesses Need to Know

    When a small business becomes an employer, it has new responsibilities. Make sure you familiarize yourself with regulatory requirements.
  3. Markets

    The Economics Of Labor Mobility

    Loosening labor restrictions has both good and bad effects for a country and its workers.
  4. Retirement

    Is the Number of Workers in the U.S. Declining?

    The number of workers in the U.S. labor force is declining. What caused it and what is the solution?
  5. Markets

    How Education And Training Affect The Economy

    Education and training benefit not only the worker, but also the employer and the country as a whole.
  6. Markets

    America’s Labor Market: Hidden Distortions and Uncertain Forecasts

    Employment reports released by the Bureau of Labor Statistics have a profound impact on political, business, consumer, and investor behavior.
  7. Markets

    What You Need To Know About The Employment Report

    This widely watched indicator of economic well-being directly influences the market.
  8. Markets

    Macroeconomics: Unemployment

    By Stephen Simpson Labor is a driving force in every economy – wages paid for labor fuel consumer spending, and the output of labor is essential for companies. Likewise, unemployed workers ...
  9. Markets

    How Education And Training Affect The Economy

    Economically successful countries hold competitive advantages over other economies in the global marketplace. Education and training are big reasons why.
  10. Retirement

    Americans Are Living Longer, but Social Security Is Not Catching Up

    Find out how Social Security really works, why the system is in trouble and whether retirees are simply living too long for Social Security to remain viable.
RELATED FAQS
  1. How does the Bureau of Labor Statistics define contingent workers?

    Discover how contingent workers are a significant part of the labor force and are defined as persons who do not expect their ... Read Answer >>
  2. How do companies measure labor supply in human resources planning?

    Find out how and why a company's human resources department would measure labor supply, and what policies would address a ... Read Answer >>
  3. What does the Bureau of Labor Statistics do?

    By collecting, analyzing and reporting on important economic data, the Bureau of Labor Statistics has become a critical information ... Read Answer >>
  4. What is the Social Security administration responsible for?

    Learn about the Social Security Administration's main responsibilities along with its history, structure and social safety ... Read Answer >>
  5. What data does the Bureau of Labor Statistics collect?

    Collected data includes unemployment numbers, inflation, prices, pay and benefits, time use of Americans, import/export numbers ... Read Answer >>
  6. How do companies balance labor supply and demand in human resources planning?

    Find out what it means for a company to balance labor supply and demand, and learn how human resources planning can strategically ... Read Answer >>
Hot Definitions
  1. Put Option

    An option contract giving the owner the right, but not the obligation, to sell a specified amount of an underlying security ...
  2. Frexit

    Frexit – short for "French exit" – is a French spinoff of the term Brexit, which emerged when the United Kingdom voted to ...
  3. AAA

    The highest possible rating assigned to the bonds of an issuer by credit rating agencies. An issuer that is rated AAA has ...
  4. GBP

    The abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories ...
  5. Diversification

    A risk management technique that mixes a wide variety of investments within a portfolio. The rationale behind this technique ...
  6. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
Trading Center