India has reduced extreme poverty very effectively, which we all are aware of. The last official data is 8 years old. According to World Bank estimates, in 2011, 268 million people were living on less than $1.90 per day (extreme poverty). The next round of data on household consumption is expected in June, which may show a huge decline in …
Political leadership, investment and comprehensive policy reforms are needed to address systemic barriers to achieving gender inequality Goal. Gender equality is a cross-cutting objective and should be a key focus of national policies, budgets and institutions. Nearly 2.4 billion women of working age do not have access to equal economic opportunities. Globally, nearly 2.4 billion women do not have the …
A secondary school, often referred to as a high school or a senior high school, is a school which provides secondary education, between the ages of 11 to 19 depending on location, after primary school and before higher education.
Promote inclusive and sustainable economic growth, employment and decent work for all.
UN Sustainable Development Goal Eight is about promoting inclusive and sustainable economic growth, employment and decent work for all. The COVID-19 pandemic caused the worst economic crisis in decades and reversed progress toward decent work for all.
Although the global economy began to rebound in 2021, leading to some improvement in unemployment, the recovery remains elusive and fragile. By the end of 2021, the global economic recovery was hampered by new waves of COVID-19 infections, rising inflation pressures, major supply-chain disruptions, policy uncertainties, and persistent labor market challenges.
# Facts and figures on promoting inclusive and sustainable economic growth, employment and decent work for all.
Multiple crises in the contemporary world are seriously threatening the global economy. Global real GDP per capita growth is projected to slow in 2023. Challenging economic conditions are pushing more workers into informal employment. As economies have begun to recover, the global unemployment rate has declined significantly. However, the youth unemployment rate remains significantly higher than the adult rate, indicating ongoing challenges in securing employment opportunities for young people. To be clear, the pandemic has accelerated the adoption of digital technology and transformed access to finance. Globally, 76 percent of adults had a bank account or accounts at regulated institutions in 2021, up from 62 percent in 2014.
At the same time, achieving SDG Goal 8 will require extensive reform of the financial system to deal with rising debt, economic uncertainty and trade tensions. Also, equal pay and decent work for young people will have to be promoted. At the same time, the slowdown in global growth in the year 2023 is likely to be less severe than previously thought, mainly due to resilient domestic spending in developed economies and improvement in China. Global economic growth is now projected to reach 2.3 percent in 2023, which is 0.4 percentage points above the January forecast.
On the other hand, if we look at the main message of the World Economic Situation and Prospects till mid-2023, then average global inflation is projected to fall from 7.5 percent in 2022 to 5.2 percent in 2023 amid low food and energy prices and a slowdown in demand, especially in large developed economies. At the same time, the World Economic Situation and Prospects (WESP) report estimates that world production growth will slow down to 1.9% in 2023, having declined by more than one percentage point from 3% in 2022. So it is clear that slow economic growth is a threat to the SDGs, the UN flagship report has warned. News, SDGs, Knowledge Hub, IISD also confirm these things.
