International Labor Organization - ILO

AAA

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.

INVESTOPEDIA EXPLAINS '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. Fair Labor Standards Act - FLSA

    A United States law which sets out various labor regulations ...
  2. Labor Union

    An organization intended to represent the collective interests ...
  3. Demand For Labor

    A concept that describes the amount of demand for labor that ...
  4. Organized Labor

    An association of workers united as a single, representative ...
  5. Cartel

    An organization created from a formal agreement between a group ...
  6. Concession

    A selling group's compensation in a stock or bond underwriting ...
RELATED FAQS
  1. What governments have used the human development index (HDI) to set policy?

    The Human Development Index (HDI) is a United Nations measurement tool to compare human prosperity between countries. Most ... Read Full Answer >>
  2. Do businesses in states with right-to-work laws have demonstrably less deadweight ...

    Deadweight loss from union activity is believed to represent as much as 0.04% of the gross domestic product (GDP) as of 2 ... Read Full Answer >>
  3. What are the key metrics of the human development index (HDI)?

    The key metrics of the standard U.N. Human Development Index (HDI) are health, education and income. These metrics were chosen ... Read Full Answer >>
  4. What are the major expenses that affect companies in the airline industry?

    The major expenses that affect companies in the airline industry are labor and fuel costs. Labor costs are largely fixed ... Read Full Answer >>
  5. What inputs are considered to be factors of production?

    Factors of production are inputs used to produce an output, or goods and services. They are resources that a company requires ... Read Full Answer >>
  6. How does someone commit featherbedding?

    Featherbedding describes the practice where businesses hire more workers than are necessary to carry out particular tasks. ... Read Full Answer >>
Related Articles
  1. Economics

    The Economics Of Labor Mobility

    Loosening labor restrictions has both good and bad effects for a country and its workers.
  2. Economics

    What You Need To Know About The Employment Report

    This widely watched indicator of economic well-being directly influences the market.
  3. Economics

    Unions: Do They Help Or Hurt Workers?

    Learn the pros and cons of these organizations and how they fit into today's economy.
  4. Economics

    What Countries Spend On Antiterrorism

    After the attacks of 9/11, combating worldwide terrorism became a higher priority for many nations. See which countries have increased military spending.
  5. Economics

    Explaining the Human Development Index

    The Human Development Index (HDI) is a metric developed by the United Nations to take the emphasis off economic growth and focus on human wellbeing.
  6. Economics

    The 3 Most Dangerous Terrorist Organizations

    A brief look at the Islamic State, Al Qaeda and Boko Haram. What are they? What do they want? Where did they come from?
  7. Economics

    How Terrorism Affects Markets and the Economy

    Terrorism causes quantifiable short-term and long-term costs. After major terror attacks, markets tend to drop quickly but recover within a year.
  8. Fundamental Analysis

    How Globalization Affects Developed Countries

    The increase in communications technology has companies competing in a global market.
  9. Stock Analysis

    The 10 Biggest Strikes In U.S. History

    American workers have striked to demand better pay, working conditions and benefits. Here's a list of the biggest U.S. work stoppages.
  10. Personal Finance

    Most Successful Unions

    Labor unions have existed in the U.S. for quite some time, but not all have been as successful as these three.

You May Also Like

Hot Definitions
  1. Bund

    A bond issued by Germany's federal government, or the German word for "bond." Bunds are the German equivalent of U.S. Treasury ...
  2. European Central Bank - ECB

    The central bank responsible for the monetary system of the European Union (EU) and the euro currency. The bank was formed ...
  3. Quantitative Easing

    An unconventional monetary policy in which a central bank purchases private sector financial assets in order to lower interest ...
  4. Current Account Deficit

    A measurement of a country’s trade in which the value of goods and services it imports exceeds the value of goods and services ...
  5. International Monetary Fund - IMF

    An international organization created for the purpose of: 1. Promoting global monetary and exchange stability. 2. Facilitating ...
  6. Risk-Return Tradeoff

    The principle that potential return rises with an increase in risk. Low levels of uncertainty (low-risk) are associated with ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!