SDG Eight

Goal 8: Promote inclusive and sustainable economic growth, employment and decent work for all

Goal 8: Promote inclusive and sustainable economic growth, employment and decent work for all

Roughly half the world's population still lives on the equivalent of about US$2 a day. And in too many places, having a job doesn't guarantee the ability to escape from poverty. This slow and uneven progress requires us to rethink and retool our economic and social policies aimed at eradicating poverty.

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. . The creation of quality jobs will remain a major challenge for almost all economies well beyond 2015.

Sustainable economic growth will require societies to create the conditions that allow people to have quality jobs that stimulate the economy while not harming the environment. Job opportunities and decent working conditions are also required for the whole working age population.


Learning about SDG 8

The SDG Targets

8.1 Sustain per capita economic growth in accordance with national circumstances, and in particular at least 7% per annum GDP growth in the least-developed countries

8.2 Achieve higher levels of productivity of economies through diversification, technological upgrading and innovation, including through a focus on high value added and labor-intensive sectors

8.3 Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage 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 endeavor to decouple economic growth from environmental degradation in accordance with the 10-year framework of programs 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 secure the prohibition and elimination of the worst forms of child labor, eradicate forced labor, and by 2025 end child labor in all its forms including recruitment and use of child soldiers

8.8 Protect labor rights and promote safe and secure working environments of all workers, including migrant workers, particularly women migrants, and those in precarious employment

8.9 By 2030, devise and implement policies to promote sustainable tourism which creates jobs, promotes local culture and products

8.10 strengthen the capacity of domestic financial institutions to encourage and to expand access to banking, insurance and financial services for all

8.a. Increase Aid for Trade support for developing countries, particularly LDCs, including through the Enhanced Integrated Framework for LDCs

8.b. By 2020, develop and operationalize a global strategy for youth employment and implement the ILO Global Jobs Pact


Increased economic growth is needed to meet the target of 7 per cent GDP growth in the least developed countries

In the period 2010-2014, the global average annual growth rate of real GDP per capita was 1.6 per cent, slightly below the rate achieved over the period of 2000-2004. The growth rate of countries in developing regions was more than triple that of developed regions (4.1 per cent versus 1.3 per cent, respectively), yet the rates for both regions were below their historical averages. This suggests that much work remains to achieve the goal of sustained and inclusive economic growth. The challenge is particularly steep for the least developed countries, whose per capita growth accelerated for a time, but has since slowed to only 2.6 per cent on average during 2010-2014, less than half the target rate of at least 7 per cent a year.

Labour productivity in developing regions, despite improvements, remains far below that of developed regions

Growth in labour productivity in developing regions outpaced that of developed regions, especially in Asia. That said, the productivity of workers in the poorest regions is still only a small fraction of that of workers in the developed world. Workers in Southern Asia and sub-Saharan Africa, for example, are only about 5 per cent as productive as those in developed regions, when measured as a percentage of GDP. Even the developing region with the highest labour productivity, Western Asia, has only about 40 per cent of the labour productivity of developed regions, and this rate has declined slightly since 2000.

Women are 15 per cent more likely to be unemployed than men worldwide, but the gender gap is far larger in Northern Africa and Western Asia

Global unemployment rate stood at 6.1 per cent in 2015, down from a peak of 6.6 per cent in 2009. Unemployment was lowest in Southern, Eastern and South-Eastern Asia, below 5 per cent, compared to other regions of the world, where the average was around 7 per cent or higher. Globally, women are more likely to be unemployed than men. Differences are most striking in Western Asia and Northern Africa, where the unemployment rate of women is more than twice that of men.

While the share of adults with bank accounts rose by 20 per cent in four years, some two billion people still lack this important financial service

Between 2011 and 2014, the proportion of the world's adult population with an account at a financial institution or a mobile money service increased from 51 per cent to 62 per cent, meaning that 700 million adults became account holders during this period. However, 2 billion adults worldwide still lack an account at a financial institution. Financial exclusion disproportionately affected women and the poor. The proportion of women who are account holders is 9 percentage points lower than the proportion of men account holders. Moreover, the proportion of account holders among the poorest 40 per cent of households is 14 percentage points lower than among those living in the richest 60 per cent of households.


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