Sustainable Development Goal 8 is about promoting inclusive and sustainable economic growth, employment and decent work for all.

Why it matters?

Economic growth contributes to sustainable development where it extends benefits to all people, actively reduces inequalities, improve living standards, and creates decent jobs for all. 

The global economy is slowly recovering from COVID-19, although recovery remains fragile and uneven. Developed economies are experiencing a marked recovery, while least developed countries (LDCs) continue to struggle. Similarly, labour market recovery remains uneven. Vulnerable groups such as women, youth, persons with disabilities and informal workers were the slowest to recover. 

In August, the Goal of the Month editorial looks at Goal 8 – Decent Work and Economic Growth. We explore challenges and opportunities facing the world economic outlook, green economy and employment.

Learn more information on the UN’s work on Goal 8 and most updated facts and figures.

In Focus 

The third brief of the Global Crisis Response Group (GCRG) on Food, Energy and Finance will be launched on 3 August, with a focus on ways to address the global energy crisis, providing specific policy recommendations to address the sky-rocketing energy prices and growing social discontent. 

The brief will be live streamed on UN Web TV, on 3 August 2022,12:15 p.m. EST.

The Islamic Development Bank (IsDB)  and the International Labour Organization (ILO) designed the Youth Green Skills Accelerator Challenge Call, to promote youth participation and skills for green jobs for a just transition.

Youth-led organizations, networks or coalitions are invited to submit innovative proposals ideas and solutions to support a just transition towards environmentally sustainable economies and societies for all. Deadline for submission is 12 August 2022 (midnight Geneva time).

The Regional Climate Weeks move next to Africa Climate Week 2022 (ACW 2022), which will be held from 28 August to 2 September in Libreville, Gabon. ACW 2022 is a collaboration platform to explore, resilience against climate risks; the transition to a low-emission economy and partnerships to solve pressing challenges. Registration is now open.

In Print

World Economic Outlook Report (IMF)

According to the International Monetary Fund (IMF) report, the global economy growth is projected to slow for the year 2022 and risks negatively impacting the future economic outlook.

The report outlines some major risks including geopolitical, inflationary, and further COVID-19 outbreaks and lockdowns.

Read the IMF report on how much this will affect global growth and what policy makers can do.


World Economic Situation and Prospects: August 2022 Briefing | 1 August

The August briefing on the World Economic Situation and Prospects focuses on “Prospects and challenges of introducing a central bank digital currency”. 

Central banks across the globe are conducting extensive research and implementing pilot programmes with respect to central bank digital currencies (CBDCs). Extensive, well-informed public discussions with relevant stakeholders are necessary, including discussions on the environmental footprint of digital currency projects.

The gender pay gap in the health and care sector: A global analysis in the time of COVID-19

The International Labour Organization and the World Health Organization launched the first ever global sectoral gender pay gap report focusing on the healthcare sector. The report highlights the significant disadvantage facing women: more women work in health and care but they earn 24 per cent less than men.

The report finds that much of the pay gap remains unexplained by factors such as experience and there is evidence of a motherhood gap.

Dmitry Pozhidaev, head of the UN Capital Development Fund (UNCDF) office in Uganda, spoke on how UNCDF supports Uganda to create a functional planning and financial system for sustainable and inclusive local development.

Most farmers in isolated villages in northern Uganda have never had a bank account or loan, but UN-backed fintech is getting them connected to the digital economy. Listen to the latest episode of our flagship Lid Is On podcast.

The tourism sector is a major driver of economic growth, enterprise development and job creation, particularly for women, youth, migrant workers and local communities. Read Dekha Dewandana’s experience on how he ran a thriving ‘homestay’ tourism property in Bali, and received UN-supported training which has helped him to maintain a high standard of hospitality despite the challenges during the C?OVID-19 pandemic.