A world famous diving destination in Thailand receives help. Around 3 in 5 of the 3.5 billion people in the labour force in 2018 were men. However, as the global economy continues to recover we are seeing slower growth, widening inequalities, and not enough jobs to keep up with a growing labour force. The Philippine economy continues to perform strongly, due in part to robust public investment, with growth projected at 6.5 percent for 2018, and 6.7 percent in 2019, the IMF said in its latest annual economic assessment. In support of the PFG, USAID economic growth assistance: Neda said the PDP 2017-2022 targets 7-8 percent gross domestic product (GDP) growth in the medium term, with economic expansion seen trickling down and benefiting more Filipinos. The Goal aims to increase labor productivity, reduce the unemployment rate, and improve access to financial services and benefits. MANILA, Philippines — Despite being relatively insulated from the effects of the coronavirus disease 2019, (COVID-19), the Philippines will likely see slower economic growth in … Supporting small- and medium-sized enterprises is crucial to achieving inclusive economic growth in the Philippines. IOM. The U.S. Government’s partnership with the Philippines supports the priorities of the Philippine Development Plan to achieve inclusive and resilient economic growth. Some 700 million workers lived in extreme or moderate poverty in 2018, with less than US$3.20 per day. United Nations Development Programme, Programme of Assistance to the Palestinian People, Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 per cent gross domestic product growth per annum in the least developed countries, Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors, Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services, Improve progressively, through 2030, global resource efficiency in consumption and production and endeavour to decouple economic growth from environmental degradation, in accordance with the 10-year framework of programmes on sustainable consumption and production, with developed countries taking the lead, By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value, By 2020, substantially reduce the proportion of youth not in employment, education or training, Take immediate and effective measures to eradicate forced labour, end modern slavery and human trafficking and secure the prohibition and elimination of the worst forms of child labour, including recruitment and use of child soldiers, and by 2025 end child labour in all its forms, Protect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment, By 2030, devise and implement policies to promote sustainable tourism that creates jobs and promotes local culture and products, Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all, Increase Aid for Trade support for developing countries, in particular least developed countries, including through the Enhanced Integrated Framework for Trade-Related Technical Assistance to Least Developed Countries, By 2020, develop and operationalize a global strategy for youth employment and implement the Global Jobs Pact of the International Labour Organization. The COVID-19 pandemic, however, dims the country’s growth prospects in 2020. A programme in Nepal helps struggling informal workers. Building new lives after decades of conflict. In 2016, microenterprises comprised almost 90 percent of business establishments and generated 30 percent of jobs in that year, … 8. USAID works with microfinance institutions to use mobile money to facilitate deposits, collect loan payments, and service payroll and loan payouts. The notable rate of population increase in the Philippines is projected to slow in the future, but should still be substantial. Focuses on promoting investment, trade, and private sector growth and on improving fiscal performance. Decent Work and Economic Growth Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all. Hands Over Php2.3M in Equipment and WildALERT System to Boost DENR Capacity to Protect Philippine Wildlife, USAID and PBEd Partner with Construction Industry Leaders to Train More Than 5,000 Filipino Youth, United States Commits Php875 Million to Support GPH HIV/AIDS Prevention and Treatment Efforts, The United States is Providing Additional Aid to Respond to Super Typhoon Goni in the Republic of the Philippines, U.S. National Security Advisor Reaffirms Alliance, Announces Military Assistance and Typhoon Relief during Philippines Visit. Parts of Metro Manila have a population density that is more than 100 times that of some outlying areas such as the mountainous area of northern Luzon. Entities. According to the International Labour Organization, more than 204 million people were unemployed in 2015. 8. When businesses are seeing dark days due to the COVID-19 pandemic, organizations in Nepal have been helping women make steady incomes. USAID is helping to strengthen the economic competitiveness of second tier cities through a coordinated and integrated set of activities aimed at: USAID is helping to improve the capacity of secondary cities to become engines of growth by: Find out about career opportunities at USAID. But the economy should recover its growth momentum in the near term, with domestic private consumption holding up well along with supportive fiscal and monetary policies, according to a … © Sustainable Development Goal 8: Decent Work and Economic Growth seeks to promote inclusive and sustainable economic growth, employment, and decent work for all. Many more women than men are underutilized in the labour force—85 million compared to 55 million. Over the past 25 years the number of workers living in extreme poverty has declined dramatically, despite the lasting impact of the 2008 economic crisis and global recession. Bloomberg delivers business and markets news, data, analysis, and video to the world, featuring stories from Businessweek and Bloomberg News on everything pertaining to technology SDG 8: Decent Work and Economic Growth Latest available data on selected indicators (unemployment rates [male/female]; share of adults with an account at a bank or other financial institution) for the Philippines' Sustainable Development Goal 8. November 17, 2020. Improve progressively, through 2030, … Overall, 2 billion workers were in informal employment in 2016, accounting for 61 per cent of the world’s workforce. In Sri Lanka family-run businesses promote a peaceful recovery. Sustained and inclusive economic growth is necessary for achieving sustainable development. Goal 8 Targets. 600 million new jobs need to be created by 2030, just to keep pace with the growth of the working age population Businesses are engines for job creation and economic growth and foster economic activity through their value chain. A densely populated, low-lying country dominated by floodplains, the country is exceptionally vulnerable to extreme weather. The country’s economic managers said they now expect the economy to shrink 5.5% this year -- down from earlier estimates for a 2% to 3.4% decline -- before rebounding strongly next year. The Philippines' Economic Outlook in Six Charts. Encouraging entrepreneurship and job creation are key to this, as are effective measures to eradicate forced labour, slavery and human trafficking. The Philippines is one of just four countries selected to join the PFG. At this year's Photoville exhibit in New York City, UNDP showcases the work of eight leading photographers as they document the effects of a pandemic.…, Giving vulnerable Bangladeshis the resources to cope with climate change. Turning up Afghanistan's solar power capacity. The global annual growth rate of real GDP per capita increased by 1.3 per cent in 2014, a significant slowdown compared to 2010 (2.8 per cent growth) and 2000 (3.0 per cent growth). The Philippines economy shrank a record 11.5% year-on-year in the third quarter of 2020, following an upwardly revised 16.9 contraction in the previous quarter and worse than market expectations of a 9.8 percent contraction, as the coronavirus pandemic impacted businesses and consumers. Investing Partners. GDP annual growth reached above 7% in 2017, before tapering off to 6.2% in 2018. Over the past 25 years the number of workers living in extreme poverty has declined dramatically, despite the lasting impact of the 2008 economic … The DWCP is a product of extensive consultations with tripartite constituents, focusing on three priorities: employment, labour market governance and social protection. European Commission.   Improving the connectivity between urban and surrounding rural areas. Fostering an open and competitive business climate, Facilitating investments in high-value industry clusters. Improve Resource Efficiency in Consumption and Production. “Overall, the 2020 African Economic Conference has provided innovative insights and perspectives on the policy challenges confronting African countries in the era of the COVID-19 pandemic,” said Bartholomew Armah, Acting Director of the Macroeconomics and Governance Division at the UN Economic Commission for Africa. Were in informal employment in 2016, accounting for 61 per cent of the 3.5 billion people the! 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