SUSTAINABLE DEVELOPMENT GOAL 8
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for allPROGRESS OF GOAL 8 IN 2018
Globally, labour productivity has increased and the unemployment rate has decreased. However, more progress is needed to increase employment opportunities, especially for young people, reduce informal employment and labour market inequality (particularly in terms of the gender pay gap), promote safe and secure working environments, and improve access to financial services to ensure sustained and inclusive economic growth.
- In 2016, real gross domestic product (GDP) per capita grew at 1.3 per cent globally, less than the 1.7 per cent average growth rate recorded in 2010–2016. For LDCs, the rate fell sharply from 5.7 per cent in 2005–2009 to 2.3 per cent in 2010–2016.
- Labour productivity at the global level, measured as output produced per employed person in constant 2005 US dollars, grew by 2.1 per cent in 2017. This is the fastest growth registered since 2010.
- Globally, 61 per cent of all workers were engaged in informal employment in 2016. Excluding the agricultural sector, 51 per cent of all workers fell into this employment category.
- Data from 45 countries suggest that gender inequality in earnings is still pervasive: in 89 per cent of these countries, the hourly wages of men are, on average, higher than those of women, with a median pay gap of 12.5 per cent.
- The global unemployment rate in 2017 was 5.6 per cent, down from 6.4 per cent in 2000. The decline has slowed since 2009, when it hit 5.9 per cent. Youth are three times more likely to be unemployed than adults, with the global youth unemployment rate at 13 per cent in 2017.
- In high-income countries, almost every adult has an account at a bank or other financial institution, compared to only 35 per cent of adults in low-income countries. Across all regions, women lag behind men in this regard.
Source: Report of the Secretary-General, The Sustainable Development Goals Report 2018