SDG Newsletter - Goal 8: Decent Work and Economic Growth
December 19, 2022
Member Feature: Joseph Mshana
Joseph Mshana is a Project 17 National Director living in Tanzania, a country in East Africa. From his work, he truly embodies Project 17’s shared ideals of building a more sustainable, productive, and healthier future for all.
If you’re interested in having your work featured on our blog, please reach out to us at contact@projectseventeen.org!
Goal 8 | Department of Economic and Social Affairs The UN SDG goal 8 outlines the United Nations’ aim to “promote sustained, inclusive, and sustainable growth, full and production employees, and decent work for all”. In short, it aims to solve the global unemployment problem as well as problems associated with working conditions and economic growth. However, a constant threat to our sustained economic progression includes COVID-19, rising inflation and the devaluing of money worldwide, supply-chain disruptions, uncertainties, and unpredictability in terms of government regulations and policies both locally and globally, as well as challenges that the labor market is facing currently. Though improvements in laws have been made over the years, “1 in 10 children are engaged in child labor activities” as of 2020. The conflicts in Ukraine further setback the global economic recovery (from COVID-19). Ultimately, the global economic situation has been threatened; consistent and effective actions worldwide (governments) must be taken.
Inflation in 2023: experts predict ‘worst is yet to come’ as recession looms | Reuters Inflation– the highest in decades– is rapidly growing, raising prices of essentials like food, heating, transportation, and accommodation. A peak may be in sight, but effects may get worse in 2023. Pandemic and war brought about this spike, ending a long period of low inflation and low interest rates prior to the pandemic. During COVID-19, governments and banks kept households and businesses afloat, keeping the economy from crashing entirely. However, in 2021, trillions of dollars worth of stimulus money overwhelmed the global trading system, causing labor shortages, insufficient production to meet demand, and a spike in energy prices. Russia’s invasion of Ukraine in February led to Western Sanctions on oil and gas, raising fuel prices even higher. Double digit inflation is known as a “tax on the poor” because it exacerbates inequalities globally, hitting those on low incomes the hardest. The World Food Programme estimates an extra 70 million people have been driven closer to starvation since the Russian invasion of Ukraine in what it calls a “tsunami of hunger”. Central banks around the world have embarked on steep interest rate hikes to tame inflation, but a smooth cooling-off may be elusive. The IMF’s October outlook was one of the bleakest in the last few years, stating: “In short, the worst is yet to come and for many people, 2023 will feel like a recession.”
International Equal Pay Day 2022: Can pay transparency measures help reduce the gender pay gap? The gender pay gap–women being paid 20% less than men– is a longstanding problem, further exacerbated by the covid pandemic. Actions to resolve the issue are demanded at the business and government level. On September 18, the International Equal Pay Day, the Equal Pay International Coalition (EPIC) explained how transparency and information sharing can be a viable solution. It was suggested that transparency is “an effective tool in identifying existing pay differences between men and women, and as such can be vehicles to address the gender pay gap and reduce broader gender inequalities in the labour market.”
Further Reading
Closing gender pay gaps is more important than ever | UN News
Column: Global worker shortages may only worsen post-COVID: Mike Dolan | Reuters
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