The UAE showcases the highest labour resilience among Arab countries, according to the Global Labour Resilience Index (GLRI) 2024 released by Whiteshield on the sidelines of the World Economic Forum in Davos, Switzerland.
The GLRI 2024 provides insights to strengthen labour markets, preparing them to endure climate change challenges and leverage the prospects of a sustainable, green future. To balance environmental needs with labour market dynamics, policymakers must adopt a holistic strategy, integrating climate and labour policies for a smooth and equitable transition to a green economy.
This report sheds light on the nations leading in labour market resilience during this era of the green transition. Countries not only must foster labour markets capable of withstanding temporary shocks but also must possess the capacity to navigate structural trends. Labour market resilience, the ability to face and recover from disruptions to the labour market, is a cornerstone of inclusive and sustainable labour markets. The GLRI 2024 quantifies this resilience through both Structural and Cyclical pillars.
The most labour-resilient countries in the report are predominantly European, with Switzerland securing the top position. Singapore stands as the only non-European country among the leading nations.
In the Middle East, the green transition is crucial for economic diversification, innovation, and trade. The UAE, as mentioned before, showcases the highest labour resilience among Arab countries, while Saudi Arabia is catching up by diversifying its economy and enhancing workforce skills.
The GLRI 2024 highlights several policy implications for labour markets during the green transition. As this development induces structural changes in the economy, targeted policies and effective institutions should be a catalyst to “green” the labour market. The importance of effective institutions cannot be overstated as they can foster better policy choices leading to higher labour market resilience and better environmental performance.
Fadi Farra, Senior Managing Partner at Whiteshield, said,
“We are delighted to launch the 2024 edition of Whiteshield’s Global Labour Resilience Index, continuing our commitment to contribute essential knowledge to the ongoing discourse on sustainability. Based on extensive research, this report identifies the most labour-resilient countries, emphasizing the critical role resilient labour markets play in shaping environmental performance for a sustainable and adaptable future.”
Raed Safadi, Whiteshield’s Chief Economist, said,
“The GLRI 2024 underscores the need for targeted policies and effective institutions to catalyse the 'greening' of the labour market amid structural changes in the global economy. Acting in anticipation can improve outcomes and this is where the different metrics of GLRI offer help in monitoring performance, benchmarking developments, and drawing lessons of experience on the existing policies and institutions within each of the 136 countries included in the study.”
News Source: Emirates News Agency
