Promoting sustained, inclusive, and sustainable economic growth, employment, and work for all are the challenges set out in Sustainable Development Goal 8; let’s see how it aims to achieve this.

The development index of a society depends closely on the socioeconomic situation of its citizens and its productive fabric, with sustained and sustainable economic growth and its direct impact on the creation of quality employment being inherent to this. This basic point of the economy is sometimes subject to an environment of constant volatility and instability, such as the one we are currently experiencing, which does not promote a formula for equitable success. These types of conditions translate into the increase of phenomena such as unemployment and job insecurity, which must be decisively stopped. This is why the United Nations, in its 2030 Agenda roadmap, established Sustainable Development Goal 8 in 2016 as a reference point for solving these problems.

According to figures published by the UN, in 2016, 61% of workers were working in unregulated jobs in a world where the unemployment rate stood at 5.6%. Furthermore, there is a significant gender pay gap, with men earning 12.5% ​​more than women in 40 of the 45 countries studied. This gap stands at 23% worldwide and, at this rate, would take another 68 years to close. These figures only emphasize the need for a commitment from all social stakeholders at the international level to curb this type of inequality and promote stable policies for the well-being of businesses and workers.

After the severe health, social, and economic blow caused by the COVID-19 pandemic, this initiative makes more sense than ever. However, to successfully reverse this situation, it is necessary to set clear and operational objectives. That is why we are going to take a look at the main goals that make up Sustainable Development Goal 8:

What are the targets of Sustainable Development Goal 8?

8.1  Maintain per capita economic growth in accordance with national circumstances, and in particular gross domestic product growth of at least 7% per year in the least developed countries.

8.2  Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including by focusing on high value-added and labor-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 Progressively improve, by 2030, global resource efficiency in consumption and production and strive 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 youth and persons with disabilities, as well as equal pay for work of equal value.

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

8.7 Take immediate and effective measures to eradicate forced labour, end contemporary forms of slavery and human trafficking and secure the prohibition and elimination of the worst forms of child labour, including the 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, develop 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 promote and expand access to banking, financial and insurance services for all.

8.a  Enhance support for Aid for Trade in developing countries, in particular the least developed countries 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.