GOAL 3. GOOD HEALT AND WELL-BEING
Sustained and inclusive economic growth can drive progress, create decent jobs for all and improve living standards.
COVID-19 has disrupted billions of lives and endangered the global economy. The International Monetary Fund (IMF) expects a global recession as bad as or worse than in 2009. As job losses escalate, the International Labor Organization estimates that nearly half of the global workforce is at risk of losing their livelihoods.
Even before the outbreak of COVID-19, one in five countries – home to billions of people living in poverty – were likely to see per capita incomes stagnate or decline in 2020. Now, the economic and financial shocks associated with COVID-19—such as disruptions to industrial production, falling commodity prices, financial market volatility, and rising insecurity—are derailing the already tepid economic growth and compounding heightened risks from other factors.
- The global unemployment rate in 2017 was 5.6per cent, down from 6.4per cent in 2000.
- Globally, 61per cent of all workers were engaged in informal employment in 2016. Excluding the agricultural sector, 51per cent of all workers fell into this employment category.
- Men earn 12.5per cent more than women in 40 out of 45 countries with data.
- The global gender pay gap stands at 23 per cent globally and without decisive action, it will take another 68 years to achieve equal pay. Women’s labour force participation rate is 63 per cent while that of men is 94 per cent.
- Despite their increasing presence in public life, women continue to do 2.6 times the unpaid care and domestic work that men do.