Reason Of Formal Economy. The informal economy is the diversified set of economic activities enterprises jobs and workers that are not regulated or protected by the state. 1 has an organised system of employment with clear written rules of recruitment agreement and job responsibilities.
Excessive cost and regulatory barriers of entry into the formal economy often motivated by corruption. Since reform and opening-up there is a good beginning of Chinas economic modernization. They are not OFWs.
Are exposed to inadequate and unsafe working conditions and have high illiteracy levels low skill levels and inadequate training opportunities.
Small scale enterprises and casual workers would be smoothly absorbed into the modern formal economy swallowing the surplus labor from the traditional economy. Who are the Formal Economy members. Who are the Formal Economy members. An employee of the government who renders services in any of the government branches military or police force political subdivisions agencies or instrumentalities including government-owned and-controlled corporations financial institutions with original charter Constitutional Commissions and is occupying either an elective.
