UN study: Nearly two-thirds of global workforce in the ‘informal’ economy

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.

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.

Source: VOV5