Sustained and inclusive economic growth can drive progress, create decent jobs for all and improve living standards.

COVID-19 has disrupted billions of lives and endangered the global economy. The International Monetary Fund (IMF) expects a global recession as bad as or worse than in 2009. As job losses escalate, the International Labor Organization estimates that nearly half of the global workforce is at risk of losing their livelihoods.

Even before the outbreak of COVID-19, one in five countries – home to billions of people living in poverty – were likely to see per capita incomes stagnate or decline in 2020. Now, the economic and financial shocks associated with COVID-19—such as disruptions to industrial production, falling commodity prices, financial market volatility, and rising insecurity—are derailing the already tepid economic growth and compounding heightened risks from other factors.

TARGETS 

8.1 Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 per cent gross domestic product growth per annum in the least developed countries

8.2 Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors

8.3 Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services

8.4 Improve progressively, through 2030, global resource efficiency in consumption and production and endeavour to decouple economic growth from environmental degradation, in accordance with the 10-year framework of programmes on sustainable consumption and production, with developed countries taking the lead

8.5 By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value

8.6 By 2020, substantially reduce the proportion of youth not in employment, education or training

8.7 Take immediate and effective measures to eradicate forced labour, end modern slavery and human trafficking and secure the prohibition and elimination of the worst forms of child labour, including recruitment and use of child soldiers, and by 2025 end child labour in all its forms

8.8 Protect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment

8.9 By 2030, devise and implement policies to promote sustainable tourism that creates jobs and promotes local culture and products

8.10 Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all

8.A Increase Aid for Trade support for developing countries, in particular least developed countries, including through the Enhanced Integrated Framework for Trade-Related Technical Assistance to Least Developed Countries

8.B By 2020, develop and operationalize a global strategy for youth employment and implement the Global Jobs Pact of the International Labour Organization

INDICATORS

8.1.1 Annual growth rate of real GDP per capita

8.2.1 Annual growth rate of real GDP per employed person 

8.3.1 Proportion of informal employment in non‑agriculture employment, by sex 

8.4.1 Material footprint, material footprint per capita, and material footprint per GDP 
8.4.2 Domestic material consumption, domestic material consumption per capita, and domestic material consumption per GDP

8.5.1 Average hourly earnings of female and male employees, by occupation, age and persons with disabilities
8.5.2 Unemployment rate, by sex, age and persons with disabilities

8.6.1 Proportion of youth (aged 15-24 years) not in education, employment or training

8.7.1 Proportion and number of children aged 5‑17 years engaged in child labour, by sex and age

8.8.1 Frequency rates of fatal and non-fatal occupational injuries, by sex and migrant status 
8.8.2 Increase in national compliance of labour rights (freedom of association and collective bargaining) based on International Labour Organization (ILO) textual sources and national legislation, by sex and migrant status

8.9.1 Tourism direct GDP as a proportion of total GDP and in growth rate 
8.9.2 Number of jobs in tourism industries as a proportion of total jobs and growth rate of jobs, by sex

8.10.1 Number of commercial bank branches and automated teller machines (ATMs) per 100,000 adults
8.10.2 Proportion of adults (15 years and older) with an account at a bank or other financial institution or with a mobile-money-service provider

8.A.1 Aid for Trade commitments and disbursements

8.B.1 Total government spending in social protection and employment programmes as a proportion of the national budgets and GDP