Definitions for informal sector
in·for·mal sec·tor

WikipediaRate this definition:0.0 / 0 votes

1. Informal sector

   An informal economy (informal sector or grey economy) 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. However, the informal sector provides critical economic opportunities for the poor and has been expanding rapidly since the 1960s. Integrating the informal economy into the formal sector is an important policy challenge.In many cases, unlike the formal economy, activities of the informal economy are not included in a country's gross national product (GNP) or gross domestic product (GDP). However, Italy has included estimates of informal activity in their GDP calculations since 1987, which swells their GDP by an estimated 18% and in 2014, a number of European countries formally changed their GDP calculations to include prostitution and narcotics sales in their official GDP statistics, in line with international accounting standards, prompting an increase between 3-7%. The informal sector can be described as a grey market in labour. Other concepts that can be characterized as informal sector can include the black market (shadow economy, underground economy), agorism, and System D. Associated idioms include "under the table", "off the books", and "working for cash".

WikidataRate this definition:3.8 / 5 votes

1. Informal sector

   The informal sector, informal economy, or grey economy is the part of an economy that is neither taxed, nor monitored by any form of government. Unlike the formal economy, activities that are engaged in the informal economy are not included in the gross national product and gross domestic product of a country. The informal sector can be described as a grey market in labour. Other concepts which can be characterized as informal sector can include the black market, the agorism, and System D. Associated idioms include "under the table", "off the books" and "working for cash". Although the informal sector makes up a significant portion of the economies in developing countries – about 41% in 2000 according to the official GNI metric – it is often stigmatized as troublesome and unmanageable. However the informal sector provides critical economy opportunities for the poor and has been expanding rapidly since the 1960s. As such, integrating the informal economy into the formal sector is an important policy challenge.

How to pronounce informal sector?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say informal sector in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of informal sector in Chaldean Numerology is: 1

2. Pythagorean Numerology

   The numerical value of informal sector in Pythagorean Numerology is: 6

Examples of informal sector in a Sentence

1. Hoda Kamel:

   There is no fair labor law, no free union law, and there is no change in economic policies, factories are shutting down and there are fewer jobs while the informal sector is gigantic ... When the revolution happened, people thought they will get their rights. But policies remained the same.

2. Muda Yusuf:

   These measures are not likely to trickle down to people in the informal sector.

3. The ILO:

   The increase in growth in the informal sector versus a reduction in salaried private sector employment is a sign of how precarious employment is becoming in Latin America.

4. Valentina Meliciani:

   Government interventions worked in the formal sector but less so with informal sector workers, the problem is that it is very difficult to catch these people because they do not show up at all in National Statistics.

References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Informal_Sector
2. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=informal sector