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Liam Smith

Mr. Taylor

Honors English I

22 March 2019

Promoting Sustainable Economic and Employment Growth

The issue of job growth and economic growth has been a contentious topic in the modern

world and is a main target of the United Nations Sustainable Development program. This comes

as a twofold approach, with the target being to improve the overall world economy by creating

sustainable, well-paying jobs. According to the United Nations, economic conditions have led to

the corruption of the social agreement behind societies: that all people must reap the rewards of

progress (“Economic”). About half of the world’s population lives for under $2 per day, showing

that this is most certainly not the case. In addition, women earn on average 23 percent less than

men, making equal pay for equal work a priority within this goal (“Economic”). However, there

are several other targets that can indicate economic success. An increase in real GDP per capita,

a measure of average productivity per person, can also signal an increase in the quality of life.

Furthermore, an increase in the non-agricultural employment rate shows job creation and a more

productive global society (“Goal”).

This goal is a major issue because of the inability to escape poverty without stable,

well-paying jobs and the global gender pay gap as well as labor force participation rate gap.

Stable jobs allow for people to have a consistent stream of income, allowing for upward mobility

in the long run and an increase in both standards of living and overall economic productivity

(“Decent”). Enhancing economic growth is also a significant issue because it would allow
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women to improve their earnings. Globally, women typically make 77 cents per dollar that men

make for the same work. The issue of women’s work extends far past the wage gap, as 31

percent fewer women work than men, having a 63 percent labor force participation rate as

opposed to an average labor force participation rate of 94 percent for women (“Economic”).

These inequalities, combined with the need for stable employment, make economic and job

growth a significant target for the United Nations.

The United Nations chose economic and job growth as a target for many reasons, one of

which is that job growth can help lessen poverty. If sustainable job growth was consistently

achieved, a steady stream of income would be provided to more people, allowing for more

overall opportunity. This would, in turn, help the overall economic growth, as an increase in

employment and labor productivity would drive growth in the world economy (“Goal”). In

addition, the United Nations chose this goal to encourage decent working conditions, which are

necessary for the working age population (“Economic”). Promoting economic growth is a global

issue because the economies of the world are interconnected in the global macroeconomy.

Promoting access to financial institutions in areas where people would not otherwise have them,

allowing them to have a line of credit as well as manage their money (“Economic”). This is also

a global issue because a large sector of the world lives in poverty, and accomplishing this goal

would go a long way to eradicating or minimizing poverty because of the creation of stable jobs

(“Goal”). In conclusion, the United Nations chose this goal in order to promote overall economic

growth that would also improve quality of life and living standards globally, as well as help to

lift people out of poverty and live a productive life.

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There are many things currently being done to promote economic and job growth,

including promoting innovation and safe employment. The United Nations is encouraging cities

to plan for future innovation, which would improve the overall economic productivity and allow

for additional jobs to be created. Furthermore, the United Nations is promoting better

employment for young people that would allow for them to be contributing members of society

(“Decent”). They are also promoting safety standards, and have a goal of eliminating all forms of

child labor, especially the use of child soldiers (“Goal”). One organization that is working

towards this goal is the United Nations Capital Development Fund. This fund, created by the

UN, strives for financial inclusion (the ability of all to partake in the economy) by providing

last-mile funds, local investments, and financial institutions. Financial inclusion through

financial institutions allows people to manage their own finances as well as expands

opportunities for all (“Financial”). Localized investments allow for new equipment and other

capital goods that can help increase productivity and economic development (“Homepage”). To

summarize, there are many different fronts that are currently being worked on as a part of the

economic development goal, and the UN Capital Development Fund is leading the way by

providing services and loans to help all people be part of the economy.

Much progress has been made towards the goal of lowering unemployment and boosting

the world economy, but work still remains. There is still a disparity between pay for women and

men, and the goal of equal pay for equal work still remains unachieved. In addition, more

women need to join the labor force, and the labor force participation rate still needs to be

increased to the level of men. Likewise, sustainable work opportunities still need to be improved,

and the United Nations Capital Development Fund is being a major force in the development of
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economies and access to banks (“Homepage”). The public can be a part of this work by giving

their political support and vote to candidates that promote economic growth and sustainable jobs.

Lastly, people can support economic growth by holding a job and participating in their local and

global economies. In summary, the goal of achieving higher employment and economic

productivity rates, which would have far-reaching benefits, still has work to do. However, all

people can contribute to the goal by putting the right people in charge as well as participating in

their own economies by holding and maintaining a job and promoting productivity growth.
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Works Cited

“Decent Work and Economic Growth.” 2018, ​United Nations​,

www.un.org/sustainabledevelopment /wp-content/uploads/2019/09/Goal-8.pdf. Accessed

17 March 2019.

“Economic Growth - United Nations Sustainable Development.” ​United Nations Sustainable

Development Goals​, ​www.un.org/sustainabledevelopment/economic-growth/​. Accessed

13 March 2019.

“Financial Inclusion.”​ United Nations Capital Development Fund,​ uncdf.org/financial-inclusion.

Accessed 15 March 2019.

“Goal 8: Sustainable Development Knowledge Platform.” ​United Nations Sustainable

Development Goals Knowledge Platform,​ ​www.sustainabledevelopment.un.org/sdg8​.

Accessed 14 March 2019.

“Homepage - UN Capital Development Fund.” ​United Nations Capital Development Fund​,

uncdf.org. Accessed 15 March 2019.