SDGs Goal 8 Decent Work and Economic Growth
SDGs Goal 8 is "Decent Work and Economic Growth" - Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Decent Work and Economic Growth
SDGs Goal 8 is “Decent Work and Economic Growth” - Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
Decent work means opportunities for everyone to get work that is productive and delivers a fair income, security in the workplace and social protection for families, better prospects for personal development and social integration.
The global unemployment rate in 2017 was 5.6%, down from 6.4% in 2000.
Globally, 61% of all workers were engaged in informal employment in 2016. Excluding the agricultural sector, 51% of all workers fell into this employment category.
Men earn 12.5% more than women in 40 out of 45 countries with data. The global gender pay gap stands at 23% globally and without decisive action, it will take another 68 years to achieve equal pay. Women’s labour force participation rate is 63% while that of men is 94%. Despite their increasing presence in public life, women continue to do 2.6 times the unpaid care and domestic work that men do.
https://www.un.org/sustainabledevelopment/economic-growth/
What’s been suggested?
Goal 8 Decent Work and Economic Growth has got the following 12 targets (https://www.un.org/sustainabledevelopment/economic-growth/).
8.1 Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7% gross domestic product growth per annum in the least developed countries
8.2 Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors
8.3 Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services
8.4 Improve progressively, through 2030, global resource efficiency in consumption and production and endeavour to decouple economic growth from environmental degradation, in accordance with the 10-year framework of programmes on sustainable consumption and production, with developed countries taking the lead
8.5 By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value
8.6 By 2020, substantially reduce the proportion of youth not in employment, education or training
8.7 Take immediate and effective measures to eradicate forced labour, end modern slavery and human trafficking and secure the prohibition and elimination of the worst forms of child labour, including recruitment and use of child soldiers, and by 2025 end child labour in all its forms
8.8 Protect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment
8.9 By 2030, devise and implement policies to promote sustainable tourism that creates jobs and promotes local culture and products
8.10 Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all
8.A Increase Aid for Trade support for developing countries, in particular least developed countries, including through the Enhanced Integrated Framework for Trade-Related Technical Assistance to Least Developed Countries
8.B By 2020, develop and operationalize a global strategy for youth employment and implement the Global Jobs Pact of the International Labour Organization
Why that’s important?
The link above also had got a brief report Why It Matters
Sustained and inclusive economic growth can drive progress, create decent jobs for all and improve living standards.
A continued lack of decent work opportunities, insufficient investments and under-consumption lead to an erosion of the basic social contract underlying democratic societies: that all must share in progress.
How far are we?
In addition to “Why It Matters” above, Progress and Info is updated for each year and Sustainable Development Goals Report shows the key points of the latest situation and prograss related to Goal 8.
Before the start of the COVID-19 pandemic in 2020, the average growth of the global economy had already slowed. The pandemic has caused the worst global economic recession since the Great Depression and has had a massive impact on working times and incomes.
COVID-19 has disrupted billions of lives and endangered the global economy. The International Monetary Fund (IMF) expects a global recession as bad as or worse than in 2009. As job losses escalate, the International Labor Organization estimates that nearly half of the global workforce is at risk of losing their livelihoods.
The global economy grew by an average of about 2% from 2014 to 2018. In 2019, real gross domestic product (GDP) per capita increased by only 1.3% globally and is estimated to have decreased by 4.6% in 2020. With the roll-out of vaccines and government aid, a global economic recovery is under way, led by China and the United States. Global GDP per capita is projected to increase by 4.3% in 2021 and 3.1% in 2022. However, for many countries, economic growth is not expected to return to pre-pandemic levels until 2022 or 2023.
By 2020, the global unemployment rate reached 6.5%t, up 1.1% from the previous year. The number of people unemployed worldwide increased by 33 million, reaching 220 million. Youth and women were especially hard hit, with employment losses of 8.7% and 5.0%, respectively, in 2020, compared with 3.7% for adults and 3.9% for men.
…Again, I will read studies and reports relevant to this goal and keep updating this post or even write an individual post for each subtopic!