Address by
Her Honour Mrs. Deborah Thomas-Felix
President of the Industrial Court of Trinidad and Tobago
On Perspectives on the Current Labour Environment
I wish to congratulate the Industrial Tribunal of the Commonwealth of the Bahamas for hosting this very important symposium on “Excellence in Industrial and Labour Relations”. Permit me today to share my perspectives on the current global labour environment.
The global health crisis which was created by the COVID-19 pandemic has rapidly transformed the economic, social and labour environment, which in turn, led to a global labour market crisis of unprecedented magnitude. As the pandemic continues to evolve and cause massive disruptions in the world of work, there is a high degree of uncertainty of any assessment of labour market disruptions and a projection of possible future trajectories for development remains uncertain.
The Secretary General of the United Nations, Mr. Antonio Guterres in his policy brief of September 2021 warned that the pandemic has not only confirmed but has deepened existing inequalities globally. He noted that investment in jobs, social protections and a just transition to a net zero emissions future, particularly in low and middle income countries, could prevent a further deepening of the inequalities. Mr. Guterres said, “Global solidarity so far has been completely inadequate”. “A unrenewed social contract ….. should be central to the recovery”
According to that UN policy brief, more than three quarters of these “new poor” are in middle income countries and at the same time the wealth of billionaires increased by over $3.9 trillion. The report noted that because of the pandemic there are an estimated 75 million fewer jobs in 2021 than there were before the crisis and 23 million fewer jobs projected in 2022.