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. Geographical Labor Mobility

    This refers to the level of freedom that workers have to relocate ...
  6. United Nations - UN

    An international organization formed in 1945 to increase political ...
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

    Unions: Do They Help Or Hurt Workers?

    Learn the pros and cons of these organizations and how they fit into today's economy.
  9. 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 ...
  10. 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.
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. Bond Ladder

    A portfolio of fixed-income securities in which each security has a significantly different maturity date. The purpose of ...
  2. Duration

    A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. ...
  3. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  4. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
  5. Front Running

    The unethical practice of a broker trading an equity based on information from the analyst department before his or her clients ...
  6. After-Hours Trading - AHT

    Trading after regular trading hours on the major exchanges. The increasing popularity of electronic communication networks ...
Trading Center