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In Africa, a 85.8 percent of employment falls under the informal sector, while in Asia and the Pacific, it accounts for 68.2 percent. The Arab States follow closely with 68.6 percent, while in the Americas, the proportion is 40.0 percent. Europe and Central Asia demonstrate the lowest prevalence of informal employment at 25.1 percent. [1]
An informal economy (informal sector or grey economy) [1] [2] is the part of any economy that is neither taxed nor monitored by any form of government. Although the informal sector makes up a significant portion of the economies in developing countries , it is sometimes stigmatized as troublesome and unmanageable.
Gender is frequently associated with informal labour. Women are employed more often informally than they are formally, and informal labour is an overall larger source of employment for females than it is for males. [5] Women frequent the informal sector of the economy through occupations like home-based workers and street vendors. [6]
The vast majority of work in India is in the informal sector. Pictured above is a child fruit seller in Kolkata. Workers at a handicraft manufacturing enterprise, Uttar Pradesh Flooring work at a portico in Hyderabad. Over 94 percent of India's working population is part of the unorganised sector. [3]
The December jobs report's unexpected surge in hiring has flipped the thinking about the labor market and economy on its head. But at the same time, there's good reason to think that the economy ...
The International Labor Comparisons Program (ILC) of the U.S. Bureau of Labor Statistics (BLS) adjusts economic statistics (with an emphasis on labor statistics) to a common conceptual framework in order to make data comparable across countries. Its data can be used to evaluate the economic performance of one country relative to that of other ...
The preliminary annual benchmark revision for nonfarm payrolls was due for release at 10 a.m. on Wednesday but the figure - a reduction of 818,000 jobs estimated for the total level of employment ...
Wage labor is the socioeconomic relationship between a worker and an employer, where the worker sells their labor under a formal or informal employment contract. These transactions usually occur in a labor market where wages are market-determined.