MSD 019: Unit 09 - SDG8–Decent Work and Economic Growth

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 UNIT 9: SDG 8 – DECENT WORK AND ECONOMIC GROWTH

9.0 Introduction

Decent work and sustained economic growth are essential for poverty reduction, human dignity, and social inclusion. Sustainable Development Goal 8 (SDG 8) aims to “promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.”

In today’s world, rapid technological advancement, climate change, and global crises like the COVID-19 pandemic have challenged job security and inclusive growth. SDG 8 seeks to ensure that economic progress benefits everyone, providing fair wages, safe working conditions, and opportunities for innovation.

9.1 Objectives

By the end of this unit, learners will be able to:

·         Understand the scope and significance of SDG 8.

·         Identify the major targets and challenges related to employment and economic growth.

·         Analyze the impact of the COVID-19 pandemic on work and economies.

·         Assess India's initiatives and performance in relation to SDG 8.

9.2 Need of SDG 8

Why SDG 8 is Important:

·         Over 2 billion people work in the informal economy, often without job security, social protection, or adequate income.

·         Youth unemployment remains high globally.

·         Economic growth does not always lead to equal distribution of wealth or job creation.

·         Many workers still face forced labor, modern slavery, and unsafe working conditions.

Key Goals of SDG 8:

·         Achieve higher levels of economic productivity through diversification, innovation, and technology.

·         Promote policies for job creation, entrepreneurship, and small enterprise growth.

·         Eradicate forced labor and child labor.

·         Improve resource efficiency in consumption and production.

·         Protect labor rights and promote safe working environments for all.

9.3 Impacts of Pandemic

COVID-19 Disruptions:

·         Global recession: The pandemic caused one of the worst economic slowdowns since World War II.

·         Job losses: Over 255 million full-time jobs were lost in 2020 globally (ILO).

·         Informal workers: Most affected due to lack of social safety nets.

·         Gender inequality: Women disproportionately lost jobs and were burdened with unpaid care work.

·         Youth employment: Entry-level opportunities shrank, affecting skill development and career growth.

Long-Term Challenges:

·         Recovery is uneven across countries and sectors.

·         Digital divide affects job access in remote or digital sectors.

·         Increased automation could lead to job displacement in traditional industries.

9.4 Sustainable Development Goal 8

Key Targets under SDG 8:

1.      Sustained economic growth: At least 7% GDP growth per annum in least developed countries.

2.      Productive employment and decent work for all, including youth and persons with disabilities.

3.      Equal pay for work of equal value.

4.      Reduce NEET (Not in Education, Employment, or Training) among youth.

5.      Promote tourism, entrepreneurship, and innovation-based industries.

6.      Improve resource efficiency and decouple economic growth from environmental degradation.

7.      End modern slavery, human trafficking, and child labor.

8.      Promote labor rights and safe, secure workplaces.

9.      Expand access to banking, insurance, and financial services.

Indicators:

·         Unemployment rate, disaggregated by sex and age.

·         Informal employment as a percentage of total employment.

·         GDP growth per employed person.

·         Occupational injuries and workplace safety measures.

·         Proportion of youth in education, employment, or training.

9.5 SDG 8 and India

India, with its large working-age population and growing economy, plays a key role in achieving SDG 8 at the global level.

Key Challenges in India:

·         High informal employment (over 80% of the workforce).

·         Youth unemployment remains above 12%.

·         Low female labor force participation.

·         Large proportion of workers in low-productivity sectors.

·         Migration and job losses during and after the pandemic.

Major Initiatives by India:

1.      Skill India Mission – Upskilling youth and preparing them for employment.

2.      Startup India and Stand-Up India – Encouraging innovation and entrepreneurship.

3.      Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) – Providing employment security to rural households.

4.      PM SVANidhi Scheme – Supporting street vendors with credit and financial inclusion.

5.      National Career Service (NCS) – Matching job seekers with opportunities.

6.      Production Linked Incentive (PLI) – Attracting investment and creating manufacturing jobs.

7.      Labour Code Reforms – Aiming to simplify and strengthen labor laws to protect workers and promote ease of doing business.

Progress and Gaps:

·         Increase in digital job platforms and gig economy.

·         Rising entrepreneurship among women and youth.

·         However, informal work and underemployment remain major concerns.

·         Skill mismatch and automation threaten job quality in some sectors.

9.6 Let’s Sum Up

·         SDG 8 focuses on promoting inclusive, sustained economic growth and full, productive employment.

·         The goal addresses issues like unemployment, decent wages, worker safety, and financial inclusion.

·         The COVID-19 pandemic highlighted vulnerabilities in the global and Indian labor markets.

·         India is undertaking major policy reforms and programs to promote job creation, skill development, and formalization of employment.

·         Achieving SDG 8 requires public-private partnerships, investment in human capital, digital inclusion, and strengthening of labor rights and social protection systems.

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