Economics of Forced Labour
ILO Report Looks at Supply & Demand Side of Forced Labour.
The International Labour Organization (ILO) has released a new report which looks at the economics of forced labour. In looking at the supply and demand side of forced labour the report presents solid evidence for a correlation between forced labour and poverty. In a 2012 report the ILO concluded there was approximately 20.9 million people in forced labour globally. The new report, Profits and Poverty: The Economics of Forced Labour, indicates forced labour in the private economy generates US$ 150 billion in illegal profits per year. Two thirds of the estimated total, or US$ 99 billion, comes from commercial sexual exploitation, while another US$ 51 billion results from forced economic exploitation, including domestic work, agriculture and other economic activities.
“This new report takes our understanding of trafficking, forced labour and modern slavery to a new level,” said ILO Director-General Guy Ryder. “Forced labour is bad for business and development and especially for its victims. Our new report adds new urgency to our efforts to eradicate this fundamentally evil, but hugely profitable practice as soon as possible.”
Download the full report here.