The formal economy is defined by the exchange of labour (product or service) for a recognized form of currency. It encompasses all jobs with normal hours and regular wages, and are recognized as income sources on which income taxes must be paid.
Business Dictionary.com, “Formal sector.” Online: http://www.businessdictionary.com/definition/formal-sector.html (Retrieved on August 14, 2014)
Canada Career Information Partnership. A Career Development Resource for Parents: Helping parents explore the role of coach and ally. 2006. Online: http://www.ccdf.ca/ccdf/wp-content/uploads/2010/12/a_career_development_resource_for_parents_e.pdf (Retrieved on May 27, 2014)