‘No one left behind’ lies at the basis of the sustainable development agenda for 2030 and if economic growth is to build a fairer world, it must be inclusive. This is the idea behind Goal 8, which aims to sustain an economic growth rate of 7% for the least developed countries by 2030, and achieve full and productive employment for all men and women everywhere in the next 15 years. Over the past quarter of a decade, the number of workers living in extreme poverty has declined dramatically, despite the ever-ringing impact of the 2008 economic crisis and global recession. In developing countries, the middle class now makes up more than 34 percent of total employment – a number that has almost tripled between 1991 and 2015. However, as the global economy continues to slowly restabilize, we are seeing slower growth, widening inequalities, and not enough jobs to keep up with a growing labor force. According to the International Labour Organization, more than 204 million people were unemployed in 2015.

While developing countries definitely have a higher growth rate than developed regions, sustained economic growth everywhere will be imperative to fulfilling our international developmental targets over the next two decades. Economic growth – making our world more prosperous – is interwoven with all our other priorities. Stronger economies will enable us to have more opportunities to build a more sustainable world. And most importantly, growth that does not improve the wellbeing of all sections of society, especially the most vulnerable, is unequal and unfair. Unemployment lies at the very root of economic stability and was thus at the very top of the agenda of the ruling parties, yet progress has been dwindling, if not backward. The SDGs promote sustained economic growth which does not derail the population in any way, advanced levels of productivity and technological innovation. Encouraging entrepreneurship and job creation are key to this, as are measures to eliminate forced labor, slavery, and human trafficking. With these goals per se, the goal is to achieve full and productive employment, and decent work, for all women and men by 2030.

Globally, annual GDP growth declined from 4.4% in 2000 to 3.2% in 2017. 1 in 10 people in the world lived on less than USD 1.90 in 2015, and in too many places, having a job doesn’t guarantee the ability to escape from poverty. The global poverty line is set in terms of dollars, and this is a direct indicator of how and who controls the global economy. This dystopian progress requires us to rethink and re-equip our economic and social policies aimed at ending poverty. According to the ILO estimates, the global unemployment rate is expected to be 5.5% in 2018, indicating a turnaround after half a decade of rising unemployment rates. However, with a growing number of people entering the labor market to seek employment, the total number of unemployed is actually estimated to remain stable in 2018, at above 192 million. In 2017, around 42% of workers (or 1.4 billion) worldwide are estimated to be in vulnerable forms of employment, while this % is expected to remain particularly high in third-world countries, at above 76% and 46%, respectively. In 2017, extreme working poverty remained widespread, with more than 300 million workers in emerging and developing countries having a per capita household income or consumption of less than US$1.90 (PPP) per day. A continual deficiency of decent work opportunities, unsatisfactory investments, and under-consumption has led to attrition of the basic social contract underlying democratic societies: that all must share in progress. The conception of quality jobs will remain a major challenge for almost all economies. But inclusive growth must also be cognizant of the needs of the most vulnerable – children, youth, and women.

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