Towards sound labour market governance

The aspiration of every society should be increase the size of the formal sector over time and across space. Informality imposes costs on the economy in terms of loss of revenue for the exchequer

The globalisation debate has brought informality on board and the ILO in a series of policy innovations has proceeded to construct a paradigm of the world of work which involves respect for fundamental rights, decent work, sound labour market governance and a gradual progression to a formal and decent workplace. 
 
Informality arguably imposes costs to the economy in terms of loss of revenue for the exchequer and lower income among other more severe forms of insecurities relating to health and employment. The aspiration of every society should be increase the size of formality over time and across spaces. One