Decent work opportunities that provide a consistent source of earning livelihood is inadequate in many parts of the world, and cause millions to live in poverty at less the 2 dollars a day. SDG 8 promotes decent work that will result in the economic growth of communities and countries.
Small and medium sized companies have a lot of potential to create jobs. Similarly, start-ups are gaining importance as they contribute to economic growth rapidly. Investment in technology, promoting different kinds of jobs and labour diversification, equal opportunities and pay for men and women are essential, since to achieve all the other sustainable development goals, work opportunities are crucial.
Most related SDGs
· SDG 9 · SDG 11
Facts and Figures
· Men earn 12.5% more than women in 40 out of 45 countries with data.
· The Unemployment ratein EU is 6.3% in 2019, while the rate in Germany is 3.1%.
· 470 million jobs are needed globally for new entrants to the labour market between 2016 and 2030.
Improvement in health care and better hospital infrastructure has resulted in increased life expectancy. This also means people live longer and the working population needs to be able to support their old. In countries like Germany and Italy, the number of old people is higher than the labour force which creates strain on the economy. This fraction of one-fifth of young people who are out of education, employment and training, has to be reduced from one-fifth if we want to reach the SDG 8.
Best Performing countries in Goal 8: Decent Work and economic growth
China and Cuba
Unemployment rates show the health of any country’s economy. EU’s unemployment rate increased from 5% in 2017 to about 6.5% in 2019-20. Countries like Greece and Spain have high rates of unemployment, so for EU to achieve SDG 8, improved labour policies and job creation is necessary.
· Support young entrepreneurs. Identify local shops and enterprises and help them make profits so that they can employ other people.
· Treat all workers, from the CEO to the plumber, with equal amount of respect and appreciation. Everyone is doing their part in contributing to economic growth.
The book presents a future in times of artificial intelligence with people losing more jobs and machines taking over the labour market. If such a future is to be avoided, we need to get more creative and train people in life-long learning.