In 2004 and 2005, around 3m new jobs will be created in the formal sector.
It also has a gender component -- formal sector employment for females has increased 136% in the last twenty years.
And more tellingly, less than a quarter of those do so in the formal sector, registering the business officially.
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He is not alone: In a country of more than 12 million people, only 50, 000 work in the formal sector.
Employment in the formal sector is up and wages have risen too.
Some estimates suggest that half of all money transfers from migrants living abroad are done outside the formal sector - that is, banks or money transfer firms.
At its core it pledges the notion that the informal economy is made up of marginal activities that are distinct and largely unrelated to the formal sector.
If unemployment is to be curbed, South Africans have to become more enterprising and the unmeasured numbers who somehow scrape a living encouraged into the formal sector.
To put it simply, they decide to stay informal because the total costs of entry, operation and exit associated with joining the formal sector are greater than the potential benefits.
Between 2003 and 2011, about 30 million Brazilians joined the so-called "new middle class, " earning between GBP100 and GBP400 per capita per month, and gaining access to formal sector employment, credit, and the country's large consumer market.
Three decades later Maloney and others have challenged this notion with the voluntarist school of thought, which views the informal economy as a complex web of heterogeneous activities that are intimately related to the formal sector.
The integration of the two systems has enabled learners from the non-formal sector to eventually rejoin and gain qualifications that are administered and sanctioned by the State just like as it is for learners following the formal education system.
"While wages are still relatively low in Mexico, employment growth has been quite strong for two years running, especially formal sector employment that comes with some fringe benefits, " said Pia Orrenius, senior economist at the Federal Reserve Bank of Dallas.
Looking ahead, the key, presumably, is to find ways - taxation policy and labour law reforms being obvious ones - to lure more small businesses into the "formal sector", and to balance the urgent need to create more jobs with the need to ensure against exploitation and abuse.
The new decrees also have the support of union leaders in the formal mining sector.
For those entrepreneurs looking to make strides, almost no capital is available from the formal banking sector.
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Safeguards and scrutiny by financial institutions have made it increasingly difficult for terrorists to exploit the formal financial sector.
In Chile and Colombia formal-sector workers pay into individual unemployment accounts, on which they can draw if they lose their jobs.
This year the government added a pension scheme to Oportunidades under which it contributes slightly more generously than it does to formal-sector pensions.
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Moreover it ensures that women will gain access to the formal banking sector, claiming an identity beyond the home and empowering her to effect change.
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So the health system for formal-sector workers continues to be short-changed.
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However, the massive growth projected for these innovations so far takes place outside the formal banking sector, in informal, unregulated networks and outside of the banking system.
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Tonga was the first country in the Pacific to formally launch ESD in 2007 and a number of ESD activities have been happening in the formal education sector.
Building upon what has been achieved so far in the decade: Scotland, as the rest of the UK widened the focus for ESD in the second half of the decade, from the formal education sector to community learning.
This integration has enabled hitherto disadvantaged people to gain equivalent qualifications with their counterparts in the formal education sector, an approach which has enabled the former to effectively participate in the cultural, economic and social development of the Kingdom like every other citizen.
Millions will return from formal employment to the informal sector and from cities to rural areas.
Working closely with a formal interagency committee and private sector stakeholders, Mr. Weiss negotiated with U.S. trading partners -- including Brazil, China, the EU, India, Korea, and Mexico -- to address problematic regulations that impeded market access for U.S. producers of numerous industrial and agricultural goods.
Spending on pensions for private-sector workers in the formal economy has tripled as a share of Brazil's GDP since 1988.
Some proposals have entailed a formal readiness mandate on the private sector that would parallel some disclosures required during the Y2K transition.
The answer, it was generally agreed, is to build on the private-sector experience that the formal list of conserved areas does not yet acknowledge.
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