Tuesday, May 28, 2019

Decent Work and Economic Growth solutions -SDG8

It is estimated that over 600 million new jobs need to be created by 2030, just to keep pace with the growth of the global working age population. That’s around 40 million per year. Today’s youth will be key to any sustainable development strategies, thus the need to ensure that there are enough opportunities for them to participate in the global economy.
Roughly half the world’s population still lives on the equivalent of about US$2 a day. And in too many places, having a job doesn’t guarantee the ability to escape from poverty. This slow and uneven progress requires us to rethink and retool our economic and social policies aimed at eradicating poverty.
A continued lack of decent work opportunities, insufficient investments and under-consumption lead to an erosion of the basic social contract underlying democratic societies: that all must share in progress. . The creation of quality jobs will remain a major challenge for almost all economies well beyond 2015.
Sustainable economic growth will require societies to create the conditions that allow people to have quality jobs that stimulate the economy while not harming the environment. Job opportunities and decent working conditions are also required for the whole working age population.
A continued lack of decent work opportunities, insufficient investments and under-consumption lead to an erosion of the basic social contract underlying democratic societies: that all must share in progress.
This is why SDG Goal 8 on Decent Work and Economic Growth is of critical importance for Africa countries. There is a need to ensure inclusive equitable economic growth hand in hand with the creation of decent and sustainable jobs
The target is to create decent jobs for all people worldwide by 2030, especially for young people and people with disabilities, and to lower the number of young people who are unemployed and uneducated by 2020.
SOLUTIONS
The number of unemployed people is rapidly increasing every year, and the majority of these individuals are young people. In order to promote inclusive and sustainable economic growth for all people worldwide, more than 470 million jobs have to be created between 2016 and 2030.
SDG 8 aims to bring about a 7% yearly gross domestic product growth in developing countries, which in turn will result in increased levels of economic productivity and growth among all sectors.
. This can only happen if diversification and upgrading of technology takes place, as access to financial services is a necessity to promote employment, entrepreneurship, and the creation of smaller businesses.
. With an increasing youthful population, Africa stands at a special place in the agenda, considering that much of the rest of the world population is ageing.
. It is this phenomenon that has given rise to the agitation for Decent Work, which means opportunities for everyone to get work that is productive and which delivers a fair income, security in the workplace and social protection for families.
. One way of ensuring the attainment of Decent Work for all is through improved labour market governance. Pertinent agenda include the laws, policies and institutions which determine and influence the demand and supply of labour.
. Labour market governance goes hand in hand with fair working conditions as one of the essential requirements of decent work. This includes decent wages, hours of work, rest and leave periods, adequate social security, freedom of association, the right to bargain collectively, and an absence of discrimination, or child labour.

Addressing challenges of poverty, inequality, labour market governance, labour productivity to achieve rapid, inclusive sustained growth with decent jobs will not only transform lives of ordinary citizens, but make Africa an economic powerhouse. #SDG8 #DecentWork #YouthEmployment #EconomicGrowth #SDGS #SharedOpportunities  

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