SDG 8 : Promoting Sustained Inclusive & Sustainable Economic Growth, Employment & Decent Work For All

SDG 8: PROMOTING SUSTAINED INCLUSIVE & SUSTAINABLE ECONOMIC GROWTH, EMPLOYMENT & DECENT WORK FOR ALL

Goal 8 of the Sustainable Development Goals (SDGs) focuses on promoting inclusive and sustainable economic growth, employment, and decent work for all. Amidst multiple global crises, this goal is increasingly critical as economic conditions continue to challenge the global labor market.

Objective:

• Promote inclusive and sustainable economic growth.
• Ensure full and productive employment and decent work for all, including youth and persons with disabilities.

KEY TARGETS

Economic Growth:

• Sustain per capita economic growth in accordance with national circumstances.
• Achieve at least 7% GDP growth per annum in the least developed countries (LDCs).

Productivity and Innovation:

• Increase economic productivity through diversification, technological upgrading, and innovation.
• Focus on high-value and labor-intensive sectors.

Development-Oriented Policies:

• Support productive activities, decent job creation, and entrepreneurship.
• Encourage the formalization and growth of micro-, small-, and medium-sized enterprises (MSMEs) with access to financial services.

Resource Efficiency:

• Improve global resource efficiency in consumption and production.
• Decouple economic growth from environmental degradation.

Decent Work:

• Achieve full and productive employment and decent work for all by 2030.
• Ensure equal pay for equal work and improve labor conditions.

Youth Employment:

• Substantially reduce the proportion of youth not in employment, education, or training by 2020.

Eradication of Forced Labor:

• Eradicate forced labor, modern slavery, human trafficking, and child labor by 2025.

Safe Working Environments:

• Protect labor rights and promote safe and secure working environments for all workers.

Sustainable Tourism:

• Promote sustainable tourism that creates jobs and supports local culture and products.

Financial Access:

• Strengthen the capacity of domestic financial institutions to expand access to banking and financial services.

Aid for Trade:

• Increase Aid for Trade support for developing countries, particularly LDCs.

Youth Employment Strategy:

• Develop and operationalize a global strategy for youth employment.

CURRENT CHALLENGES

Economic Conditions:

• Global real GDP per capita growth is forecasted to slow down, affecting employment rates and increasing informal employment.
• Persistent lack of decent work opportunities and under-consumption are eroding the social contract that promotes shared progress.

Unemployment Trends:

• The global unemployment rate declined to 5.4% in 2022, recovering from the peak of 6.6% during the COVID-19 pandemic.
• Youth unemployment remains a significant issue, with a high rate compared to adults. In 2022, nearly 1 in 4 young people were not in education, employment, or training.

Gender and Youth Disparities:

• Women and youth have been disproportionately affected by the pandemic, although women are showing a stronger recovery in employment.
• Young people face severe challenges in securing decent employment.

WHAT CAN BE DONE?

Invest in Education and Training:

• Enhance the quality of education and training to match labor market demands.
• Provide youth with skills and access to social protection and basic services.

Policy Implementation:

• Governments should build dynamic, sustainable, and people-centered economies.
• Promote youth employment and women’s economic empowerment, and ensure decent work for all.

Safe Work Environments:

• Implement health and safety measures to protect workers, particularly those in essential services.

SDG 8 IN INDIA

To track India’s progress towards SDG 8, 8 national-level indicators have been identified.

These indicators assess six out of the twelve SDG targets set for 2030.

PERFORMANCE OF STATES

• SDG 8 Index Score
  • Range: The SDG Index Score for Goal 8 ranges from 54 to 88 for States and 58 to 86 for Union Territories (UTs).
  • Top Performers:
    • States: Himachal Pradesh (Top performer)
    • UTs: Ladakh (Top performer)
  • Categories:
    • Front Runners: Twenty States and six UTs with scores between 65 and 100 (excluding 100).
    • Performers: Eight States and two UTs.
• Key Indicators and Performance
  • Per Capita GDP Growth Rate:
    • National Rate: 5.88% in 2021–2022.
    • Target: 7% per annum (SDG 8.1).
    • Top Performer: Bihar with 9.07% per capita GDP growth rate.
  • Unemployment Rate:
    • • National Rate: Decreased from 4.4% to 3.4% (2021–2023) as per PLFS.
      • Top Performer: Tripura with an unemployment rate of 5%.
  • Labour Force Participation Rate (LFPR):
    • • National Rate: 61.6% (2022–2023) for the age group 15–59 years.
      • Top Performers:
        • States: Himachal Pradesh (81.3%), Sikkim (78.1%).
        • UTs: Andaman and Nicobar Islands (71.2%).
      • Lowest: Bihar with 50.9%.
  • Coverage of Social Security Benefits:
    • National Rate: 53.9% of wage/salaried employees in the non-agricultural sector lack social security benefits.
    • Top Performer: Mizoram (11% without benefits).
    • Lowest Performer: Chhattisgarh (68.9% without benefits).
  • Households with Bank Accounts:
    • National Rate: 95.7% of households.
    • Top Performers:
      • States: Rajasthan (97.6%), Himachal Pradesh (97.4%).
    • Lowest: Meghalaya (90%).
  • Banking Outlets:
    • National Rate: 12 banking outlets per lakh population.
    • Top Performers:
      • States: Goa (43 per lakh), Chandigarh (38).
    • Lowest: Bihar (6 per lakh).
  • Automated Teller Machines (ATMs):
    • National Rate: 18 ATMs per lakh population (March 2024).
    • Top Performers:
      • States: Goa (67 ATMs), Chandigarh (60).
    • Lowest: Bihar (7 ATMs).
  • Women Account Holders under PMJDY (Pradhan Mantri Jan Dhan Yojana):
    • National Rate: 55.63%.
    • Top Performers:
      • States: Tamil Nadu (58.59% women account holders).
    • Lowest: Goa (44.15% women account holders).
    • UTs: Puducherry (56.68% women account holders), Delhi (37.07%).

KEY SCHEMES

• Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA): This flagship program guarantees 100 days of wage employment to rural households, providing a safety net and boosting rural incomes.
• Pradhan Mantri Jan Dhan Yojana (PMJDY): This financial inclusion scheme aims to provide basic banking facilities to the unbanked population, enabling them to access credit and other financial services.
• Pradhan Mantri Awas Yojana (PMAY): This housing scheme provides affordable housing to the urban and rural poor, improving their living conditions and generating employment in the construction sector.
• Skill India Mission: This initiative focuses on developing vocational skills and training to enhance employability among the youth.
• Pradhan Mantri Employment Generation Program (PMEGP): This program provides financial assistance to micro-enterprises and self-employment ventures, creating employment opportunities.
• Pradhan Mantri Kisan Samman Nidhi (PM-KISAN): This scheme provides income support to small and marginal farmers, improving their livelihoods and agricultural productivity.
• National Health Mission (NHM): This mission aims to improve healthcare access and outcomes, leading to better health and productivity of the workforce.

CHALLENGES FACED BY INDIA

• Despite progress, significant disparities exist in unemployment rates, labor force participation, and social security coverage across States and UTs.
• Addressing the high level of informal employment and ensuring comprehensive social security benefits remain critical challenges.
• There is a need for enhanced financial inclusion and banking infrastructure, particularly in less developed regions.

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