Human rights based approach to recovery from the global economic and financial crises, with a focus on those living in poverty 2011, para. 29
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Since the global economic and financial crises in the financial markets arose in 2007, they have had a devastating impact on poverty rates and presented a serious threat to the lives and livelihoods of hundreds of millions of people across the globe. Their disastrous impact has been amplified by a number of pre-existing social and economic realities: the world had been plagued in preceding years by consecutive fuel and food crises, unemployment was already unacceptably high, a majority of workers were employed in the informal sector, and only 20 per cent of the world's working-age population and their families had effective access to social protection.
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Non-negotiated soft law
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Special Rapporteur on extreme poverty and human rights