Sustainable Development Goal 8

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." == Targets, indicators and progress ==

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. Target 8.1: Sustainable economic growth The full title of Target 8.1 is: "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". Achieving higher productivity will require diversification and upgraded technology along with innovation, entrepreneurship, and the growth of small- and medium-sized enterprises (SMEs). In 2018, the global growth rate of real GDP per capita was 2 per cent. Target 8.2: Diversify, innovate and upgrade for economic productivity The official wording for Target 8.3 is: "Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation." The official title of Target 8.4 is: "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 Programs on Sustainable Consumption and Production, with developed countries taking the lead." Target 8.6: Promote youth employment, education and training The full title for Target 8.6 is: "By 2020, substantially reduce the proportion of youth not in employment, education or training". While there has been progress in many North American and European Countries, this is not the case for most African countries. As the NEET rates for youth in the majority of African countries are higher today than in 2015 (when the SDGs were originally implemented). Youth that is NEET, are more likely to have adverse effects on their emotional, physical and psychosocial wellbeing. The lack of decent employment can also contribute to exacerbating global issues such as poverty and mass migration. Every country will be able to generate income as it aims at improving its tourist attraction. Target 8.10: Universal access to banking, insurance and financial services The official text for Target 8.10 is: "Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all". Custodian agencies Custodian agencies are in charge of reporting on the following indicators: • Indicator 8.1.1: United Nations Department of Economic and Social Affairs (UN-DESA) and United Nations Statistics Division (UNSD). • Indicators 8.2.1, 8.3.1,8.5.1, 8.5.2, 8.6.1, 8.8.1, 8.8.2 and 8.b.1: International Labour Organisation (ILO). • Indicators 8.4.1 and 8.4.2: United Nations Environment Programme (UNEP). • Indicator 8.7.1: The International Labour Organisation (ILO) and United Nations International Children's Emergency Fund (UNICEF). • Indicators 8.9.1 and 8.9.2: United Nations World Tourism Organization (UNWTO). • Indicator 8.10.1: International Monetary Fund (IMF). • Indicator 8.10.2: World Bank (WB). • Indicator 8.a.1: Organisation for Economic Co-operation and Development (OECD). == Monitoring ==

High-level progress reports for all the SDGs are published in the form of reports by the United Nations Secretary General; the most recent is from April 2021. == Links with other SDGs ==

The attainment of SDG 8 is vested on the success and progress of other SDGs. There cannot be growth in the economy of any country if its citizens are not well educated. Therefore, SDG 8; Decent Work and Economic Growth interlinks with Quality Education (SDG 4), Gender Equality (SDG 5) for equal work opportunities. There are also strong ties with Industry, Innovation and Infrastructure (SDG 9) and Responsible consumption and production (SDG 12). == Organizations ==

UN system • World Bank Group: Since the inception of the Global Goals, The World Bank has been in support with the vision to alleviate poverty and empower both gender through its training, resources mobilisation and others. • United Nations Office for Outer Space Affairs (UNOOSA) • International Labour Organisation • United Nations World Tourism Organization (UNWTO) == Challenges ==

Impacts of COVID-19 pandemic With companies shutting down and small scale business being affected as a result of the COVID-19 pandemic it is reported that chances of employment will continue to decrease. The outbreak of the COVID-19 pandemic in 2020 has reduced the growth of every economy in the world, including every sector like banking, insurance and services. ==Criticism==

Several researchers have noted that continued global economic growth of 3 percent (Goal 8.1) may not be reconcilable with the ecological sustainability SDGs (6, 12, 13, 14, and 15), because the required rate of absolute global eco-economic decoupling is far higher than any country has achieved in the past. According to anthropologist Jason Hickel, it may also conflict with other non-environmental goals as well; for example, SDG 1 (no poverty) may become unachievable if economic development leads to most jobs becoming fully automated, which may be easier in the developing countries' crucial manufacturing sector. In light of this, he proposes eliminating Goal 8.1 and modifying other goals, such as SDGs 8.4 and 10 (reduced income inequality) to make them quantitative and explicitly oriented toward sustainability and social welfare. ==See also==