ILO says forced labour generates annual profits of US$ 150 billion

Forced labour in the private economy generates US$ 150 billion in illegal profits per year, about three times more than previously estimated, according to a new report from the International Labour Organization (ILO).

The ILO report, Profits and Poverty: The Economics of Forced Labour , said two thirds of the estimated total of US$ 150 billion, or US$ 99 billion, came from commercial sexual exploitation, while another US$ 51 billion resulted from forced economic exploitation, including domestic work, agriculture and other economic activities. The report also finds illegal gain from forced labour of about 21 million people amounts to three times more than prior estimates.

“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.”

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Source & Copyright: ILO