Breaking out of the informal economy: Does new technology hold the key?
Two billion people – more than six out of ten workers in the world – make their living in the informal economy. The ILO estimates that some 1.6 billion of these workers have been significantly impacted by the COVID pandemic. Among them, women and young workers have been particularly hard hit. What is to be done? One emerging solution is technology. The ILO Centenary Declaration for the Future of Work recognizes the role of technological innovation in driving change in the world of work and its human-centred approach, and promotes harnessing the potential of technological progress to achieve decent work and sustainable development. In this podcast, ILO Employment Policy Specialist Juan Chacaltana and Technical Officer, Vicky Leung discuss emerging policy trends in how technology can facilitate the transition to the formal economy, or e-formality, and some of the challenges.