Definition of Informal sector:
Sector which encompasses all jobs which are not recognized as normal income sources, and on which taxes are not paid. The term is sometimes used to refer to only illegal activity, such as an individual who earns wages but does not claim them on his or her income taxes, or a cruel situation where people are forced to work without pay. However, the informal sector could also be interpreted to include legal activities, such as jobs that are performed in exchange for something other than money. Opposite of formal sector.
How to use Informal sector in a sentence?
- You should always know where you stand in the informal sector to know if there is any way that you can improve.
- The informal sector of the lawn mowing business is substantial which makes for an interesting competition between us and them.
- The informal sector actually made a lot of money for me and I thought about maybe going there full time.
Meaning of Informal sector & Informal sector Definition