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Sustainable Development Goal 8

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Sustainable Development Goal 8

Sustainable Development Goal 8 (SDG 8 or Global Goal 8) is about "decent work and economic growth" and is one of the 17 Sustainable Development Goals which were established by the United Nations General Assembly in 2015. The full title is to "Foster sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all." Progress towards targets will be measured, monitored and evaluated by 17 indicators.

SDG 8 has twelve targets in total to be achieved by 2030. Some targets are for 2030; others are for 2020. The first ten are outcome targets. These are; "sustainable economic growth; diversify, innovate and upgrade for economic productivity", "promote policies to support job creation and growing enterprises", "improve resource efficiency in consumption and production", 'full employment and decent work with equal pay', 'promote youth employment, education and training', 'end modern slavery, trafficking, and child labour', 'protect labour rights and promote safe working environments', 'promote beneficial and sustainable tourism', universal access to banking, insurance and financial services. In addition, there are also two targets for means of implementation, which are: Increase aid for trade support; develop a global youth employment strategy.

For the least developed countries, the economic target is to attain at least a 7 percent annual growth in Gross Domestic Product (GDP). In 2018, the global growth rate of real GDP per capita was 2 per cent.

Over the past five years, economic growth in least developed countries has been increasing at an average rate of 4.3 per cent. In 2019, 22 per cent of the world's young people were not in employment, education or training.

For close to three decades, the number of workers living in extreme poverty has reduced drastically. This is despite the impact of the 2008 financial crisis and Great Recession. In developing countries, 34% of total employments were for the middle class, a number that increased rapidly between 1991 and 2015.

Employment growth since 2008 has "averaged only 0.1% annually, compared with 0.9% between 2000 and 2007".

SDG 8 aims at fostering sustainable and equitable economic growth for all workers, irrespective of their background, race or gender. This means achieving "higher levels of economic productivity through product diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors."

The UN has defined the 12 Targets and 17 Indicators for SDG 8. The 12 Targets specify the goals and Indicators represent the metrics by which the world aims to track whether these targets are achieved by using the years stated and documented for the indicators actualisation. Two of the indicators are to be achieved by the year 2020, one by the year 2025, and the remaining fourteen indicators are to be achieved by 2030.

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