SDG 8 : DECENT WORK & ECONOMIC GROWTH
GOAL : Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
Economic growth provides financial stability and facilitates an improved quality of life. However, the socio-economic implications of Covid-19 have devastated the global economy, resulting in the worst economic recession since the great depression. 1.6 billion workers in the informal sector risk completely losing their livelihoods. Similarly, it was estimated that 8.8% of global working hours were lost in 2020, equivalent to 255 million full-time jobs.
As the global economy is in the process of a slow recovery, economic development must ensure decent and fulfilling jobs and a diversified industry that ensures that the benefits of entrepreneurship and innovation are inclusive. Moreover, labor rights must be protected and contemporary slavery and child labor must be eradicated in all its forms.
The 12 target goals to ensure decent work and sustainable economic growth by 2030, are as follows:
Sustainable economic growth
Achieve higher levels of economic productivity through diversification, technological upgrading and innovation
Promote policies to support job creation and growing enterprises
Improve resource efficiency in consumption and production
Achieve full and productive employment and decent work with equal pay
Promote youth employment, education and training
End modern slavery, trafficking and child labour
Protect labour rights and promote safe and secure working environments for all workers, including migrant workers
Promote beneficial and sustainable tourism
Universal access to banking, insurance and financial services
Increase aid for trade support for developing countries
Develop a global youth employment strategy