Goal 8 is about promoting inclusive and sustainable economic growth, employment and decent work for all. The COVID-19 pandemic precipitated the worst economic crisis in decades and reversed progress towards decent work for all.
Although the global economy began to rebound in 2021, bringing some improvement in unemployment, recovery remains elusive and fragile. By the end of 2021, global economic recovery had been hampered by new waves of COVID-19 infections, rising inflationary pressures, major supply-chain disruptions, policy uncertainties and persistent labour market challenges.
- Global real GDP per capita was projected to increase by 3 per cent in 2022, but the Ukraine crisis will likely hold growth to 2.1 per cent.
- The real GDP for least developed countries is projected to rise by 4.0 per cent in 2022, and 5.7 per cent in 2023 – still below the 7 per cent target under the 2030 Agenda.
- In 2021, global output per worker rebounded sharply, rising by 3.2 per cent; however, productivity in least developed countries declined by 1.6 per cent.
- The average worker in a high-income country produced 13.6 times more output than the average worker in a low-income country in 2021.
- The global unemployment rate is projected to remain above its 2019 level of 5.4 per cent, at least until 2023.
- In 2021, unemployment declined slightly to 6.2 per cent.
- In 2021, 4.3 per cent of global working hours were lost relative to the fourth quarter of 2019.
- Worldwide, 160 million children (63 million girls and 97 million boys) were engaged in child labour at the beginning of 2020.
- Globally, 9 million additional children are at risk of being pushed into child labour by the end of 2022, compared to 2020, as a result of rising poverty driven by the pandemic.
8.1 Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 per cent 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
International Labour Organization
Inquiry into the Design of a Sustainable Financial System: Policy Innovations for a Green Economy
Economic and Social Commission for Asia & the Pacific
Economic and Social Commission for Western Asia
Economic and Social Commission for Africa
Economic and Social Commission for Europe
Economic and Social Commission for Latin America & the Caribbean
COVID-19 response
The COVID-19 pandemic has caused a historic recession with record levels of deprivation and unemployment, creating an unprecedented human crisis that is hitting the poorest hardest.
In April 2020, the United Nations released a framework for the immediate socio-economic response to COVID-19, as a roadmap to support countries’ path to social and economic recovery. It calls for an extraordinary scale-up of international support and political commitment to ensure that people everywhere have access to essential services and social protection. The socio-economic response framework consists of five streams of work:
- Ensuring that essential health services are still available and protecting health systems;
- Helping people cope with adversity, through social protection and basic services;
- Protecting jobs, supporting small and medium-sized enterprises, and informal sector workers through economic response and recovery programmes;
- Guiding the necessary surge in fiscal and financial stimulus to make macroeconomic policies work for the most vulnerable and strengthening multilateral and regional responses; and
- Promoting social cohesion and investing in community-led resilience and response systems.
These five streams are connected by a strong environmental sustainability and gender equality imperative to build back better.
The UN Secretary-General has stressed that the recovery from the COVID-19 crisis must lead to a different economy.
Beyond the immediate crisis response, the pandemic should be the impetus to sustain the gains and accelerate implementation of long-overdue measures to set the world on a more sustainable development path and make the global economy more resilient to future shocks.
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