Ruto noted that on average, Africa invests 30 per cent of its annual budget or US dollars 150 billion on educating and training youth.
"But only 30 per cent of them join the workforce, and 70 per cent remain unemployed. What a waste!" he wondered.
The Head of State said the perennial waste of human capital and productive opportunity must squarely form part of the most urgent concerns for workers, employers as well as government.
He expressed optimism that nations would overcome the challenge if unemployment and the employed were incorporated into the social dialogue.
"I, therefore, suggest that for social justice to become a reality, and for this World of Work Summit to live up to its description, we must expand the scope of social dialogue to bring these millions of jobless people to work," he said.
Meanwhile, President Ruto said including the unemployed in the social dialogue paradigm defines the most critical contemporary crisis facing workers and work: technological change and the future of work.
"In particular, automation has disrupted the employment market, rendering many people jobless and eliciting profound concern that machines are going to drive humanity out of work and into poverty," he said.
He said there was need for clarity on the question of whether technology promotes, or undermines employment and job creation.
"We must exploit the opportunity of social dialogue to deepen and enrich our collective understanding on this matter, and to reconcile our diverse positions on the implications of technological disruption in the workplace," said Ruto.
On climate change, the President said concerted efforts remain key to addressing the challenges of global warming.
He said it was time for the entire world to implement solutions to climate change with radical determination on a global scale.
"It is time to seriously invest in mechanisms to mitigate the adverse impacts of climate change and build resilience in vulnerable communities, economies and regions," he said.
President Ruto noted that climate change offers countries extremely limited choices, making it urgent for humanity to reconfigure global production and consumption technologies.
"Without a doubt, we must now retire for good the old toxic conversation between the Global North and South, and embrace new approaches to climate change. Blame games, pity and charity and hegemonic dynamics which do nothing to address urgent problems, must finally give way to a new all-inclusive, win-win discourse," he said.
Barbados Prime Minister Mia Mottley said there was need for all countries to embrace fairness in addressing global challenges.
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She noted that problems such as cybercrime attacks, wars, food insecurity, climate change and diseases among other issues required collective responsibility in confronting them.
"There is systemic unfairness which needs for social justice. We must support global coalition for social justice," said Ruto.
Ms Mottley emphasised on the need for developed countries and international financial institutions to adjust their approach to supporting developing states to adapt to climate change among other challenges.
"There should be fairness between the global north and south when addressing challenges facing them. We should not be brainwashed that since the global north colonised the global south, the latter should continue being treated unfairly, " said the PM.
She concurred with President Ruto that more focus should be given to unemployment.
"We must work together with ILO to address the challenges of youth unemployment instead of focusing alone on workers and employers," said Ms Mottley.
ILO Director-General Gilbert Houngbo said there was need for new approach to have different and meaningful progress in attaining social justice.
"We must craft a roadmap to guide our next steps in priority areas so as to improve the way of doing things in favour of social justice," said Mr Houngbo.
"If we are to create renewed social contract, we must be driven by fairness and above all social justice," he added.
Labour Cabinet Secretary Florence Bore, Cotu Secretary General Francis Atwoli and Kenya's Ambassador to UN-Geneva Cleopa Mailu were also present.