LACK OF ECONOMIC GROWTH

global real GDP per capita growth is projected to slow in

2023

Failure to successfully meet targets set up in Goal 8 will result in: 

  • deepening social and economic inequalities,
  • limiting employment opportunities and creating new jobs,
  • lack of equal access to decent work, which would consequently lead to greater social inequality,
  • lack of investment in innovation and technological development, which is crucial for long-term economic growth.

According to the UN, Human Development Reports, World Labor Report, International Labor Organization (ILO), World Bank and Eurostat : 

  • in 2019, there were 188 million unemployed people worldwide, of whom 64.2 million were age 15 to 24.
  • From 2000 to 2019, the percentage of people working in agriculture worldwide decreased from 42% to 26%.
  • In 2019, the richest 1% of the world's population held over 44% of total global wealth, while the poorest 50% had access to just 2.4%.
  • Despite progress, there are still significant gender gaps in employment and pay. In 2019, only 47% of working-age women were employed, compared to 74% of men.
  • Currently, approximately 61% of all workers in the world work in the informal sector, which often lacks adequate social protections and labor rights.