Informal economy, also known as the “grey” market, shadow economy, or black economy. This is the part of the economy that is not taxed or regulated by the government and therefore does not feature in the GDP statistics for that country. People working in the informal labor market are likely to be paid in cash and may undertake work such as domestic cleaning/gardening, babysitting, and car-washing and are characterized by unstable employer-employee relationships. Informal work is often vitally important to the poor. Do research on the informal economy in your home country (or another country). Provide answers to the following questions.

1. What is the estimated size (the extent of) the informal economy in your country? For example America or any country

2. Which sectors are mostly dominated by the informal economy?

3. Has the government formulated a strategy for the gradual formalization of the informal economy in the country (including in agriculture and rural areas); for the national economy or for specific sectors or groups of workers?

4. Has the government extended labor legislation to cover workers in the informal economy?

5. Does the national social security system provide informal economy workers with the possibility of obtaining a minimum of social protection?

6. What are the problems of informal workers in your home country? Here you do not have to generalize but instead, you may focus on a sector to give specific examples and data.

Do not forget to cite the sources!