Economic growth must be inclusive to provide sustainable jobs and promote equality.
More than 700 million people, or 10% of the world population, still live in extreme poverty and is struggling to fulfill the most basic needs like health, education, and access to water and sanitation, to name a few. The majority of people living on less than $1.90 a day live in sub-Saharan Africa. Worldwide, the poverty rate in rural areas is 17.2 per cent—more than three times higher than in urban areas.
Having a job does not guarantee a decent living. In fact, 8 per cent of employed workers and their families worldwide lived in extreme poverty in 2018. Poverty affects children disproportionately. One out of five children live in extreme poverty. Ensuring social protection for all children and other vulnerable groups is critical to reduce poverty.
Poverty has many dimensions, but its causes include unemployment, social exclusion, and high vulnerability of certain populations to disasters, diseases and other phenomena which prevent them from being productive.
Growing inequality is detrimental to economic growth and undermines social cohesion, increasing political and social tensions and, in some circumstances, driving instability and conflicts.