Decent work and economic growth are critical for achieving sustainable development and reducing poverty around the world. The eighth SDG goal, "Decent Work and Economic Growth," aims to promote sustained and inclusive economic growth, full and productive employment, and decent work for all.
Progress and Challenges
According to the United Nations, the global economy has experienced sustained growth over the past few years, with global GDP growth averaging 3.6% per year between 2010 and 2019. However, economic growth has not necessarily translated into improved job quality or reduced inequality. Many workers still lack access to decent work and social protections, and income inequality remains high.
In addition, the COVID-19 pandemic has had a significant impact on the global economy and employment, with job losses and economic disruptions affecting millions of people around the world.
Statistics:
here are some statistics related to SDG 8: "Decent Work and Economic Growth"
1. Unemployment: According to the International Labour Organization (ILO), the global unemployment rate was 5.4% in 2021, equivalent to 199 million people without jobs.
2. Informal Employment: In developing countries, more than 60% of workers are in the informal economy, with limited access to social protections and benefits.
3. Gender Pay Gap: On average, women earn 23% less than men globally, with even wider gaps in some regions.
4. Youth Unemployment: Youth unemployment rates are generally higher than those for adults. Globally, 13.1% of youth aged 15 to 24 were unemployed in 2020.
5. Working Poverty: About 8% of employed workers and their families live in extreme poverty, defined as earning less than $1.90 per day.
6. Economic Growth: In 2021, the global economy is projected to grow by 5.4%, following a contraction of 3.5% in 2020 due to the COVID-19 pandemic.
7. Labor Productivity: Labor productivity, measured as output per worker, has been increasing in many countries. However, the pace of productivity growth has slowed in recent years.
8. Informal Sector: The informal economy accounts for up to 40% of GDP in some countries, but its contribution to the economy is often unrecognized and undercounted.
9. Migration: About 164 million people, or 3.5% of the world's population, lived outside their country of origin in 2020, and many migrants face challenges accessing decent work.
10. Child Labor: According to the ILO, 152 million children are in child labour, with 73 million engaged in hazardous work.
Policies and Interventions
To achieve the goal of decent work and economic growth, governments and organizations around the world are implementing policies and interventions to promote sustainable and inclusive economic growth and employment. Some examples of these policies and interventions include:
1. Social protection programs: Programs that provide social protections such as healthcare, retirement benefits, and unemployment insurance can help to support workers and reduce poverty.
2. Education and skills development: Investment in education and skills development can help to equip workers with the skills and knowledge necessary to access decent work and improve their earning potential.
3. Inclusive business practices: Encouraging businesses to adopt inclusive practices such as fair wages, safe working conditions, and non-discrimination can help to promote decent work and reduce inequality.
4. Economic stimulus measures: Measures such as public investment in infrastructure and job creation programs can help to stimulate economic growth and employment.
Source URLs
To learn more about the statistics and policies related to SDG 8, you can visit the following sources:
United Nations Development Programme: https://www.undp.org/content/undp/en/home/sustainable-development-goals/goal-8-decent-work-and-economic-growth.html
International Labour Organization: https://www.ilo.org/global/topics/sdg-2030/goal-8/lang--en/index.htm
World Bank: https://www.worldbank.org/en/topic/jobsanddevelopment/brief/sustainable-development-goal-8-decent-work-and-economic-growth
Conclusion
Decent work and economic growth are essential for reducing poverty and achieving sustainable development. While progress has been made in promoting economic growth, there is still a need to ensure that growth is inclusive and sustainable and that workers have access to decent work and social protections. Through continued investments in policies and interventions that promote sustainable and inclusive economic growth and employment, we can work towards a world where all individuals have access to decent work and can enjoy the benefits of economic growth.
Author: Hello, my name is Hari Vandana Konda and I am an IT and cloud sustainability enthusiast with a passion for maximizing the impact of technology in our world. I am a certified professional in Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform (GCP), and Oracle. In addition, I am also a certified FinOps Practitioner which has given me a unique perspective on managing cloud costs and optimizing the overall financial health of organizations. My expertise in these cloud platforms, combined with my passion for sustainability, makes me an ideal author for discussions surrounding the intersection of technology and the environment.
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