Photo Credit : World Youth Foundation
Does decent work matter for economic growth?
Roughly half the world’s population still lives on the equivalent of about US$2 a day. And in too many places, having a job doesn’t guarantee the ability to escape from poverty. A continued lack of decent work opportunities, insufficient investments and under-consumption lead to an erosion of the basic social contract underlying democratic societies: that all must share in progress.
Putting job creation at the heart of economic policy-making and development plans, will not only generate decent work opportunities but also more robust, inclusive and poverty-reducing growth. It is a virtuous circle that is as good for the economy as it is for people and one that drives sustainable development.
“Promoting jobs and enterprise, guaranteeing rights at work, extending social protection and promoting social dialogue are the four pillars of the ILO Decent Work Agenda with gender as a cross-cutting theme.”
Guy Ryder, ILO Director-General
A few facts
- Employment growth since 2008 has averaged only 0.1% annually, compared with 0.9% between 2000 and 2007
- Over 60 per cent of all workers lack any kind of employment contract
- Fewer than 45 per cent of wage and salaried workers are employed on a full-time, permanent basis, and even that share is declining.
- By 2019, more than 212 million people will be out of work, up from the current 201 million
- 600 million new jobs need to be created by 2030, just to keep pace with the growth of the working age population