UN study: Nearly two-thirds of global workforce in the ‘informal’ economy
(VOVWORLD) - More than 61 per cent of the world’s employed population – two billion people – earn their livelihoods in the informal sector, the United Nations labor agency said on Monday, stressing that a transition to the formal economy is critical to ensure rights’ protection and decent working conditions.
Cycle rickshaw pullers in the old quarter of Delhi, India (Photo: UN)
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The UN reported that the high incidence of informality in all its forms has multiple adverse consequences for workers, enterprises and societies and is a major challenge for the realization of decent work for all. The findings are revealed in ILO’s latest report, Women and men in the informal economy: A statistical picture. The study also provides comparable estimates on the size of the informal economy and a statistical profile of the sector, using criteria from more than 100 countries.