Did you know that in many regions, unemployment among youth is easily 2-3 times higher than for adults. Especially in developing countries, the school-to-work transition can be a long and tedious process, during which young people leave school, become jobless and spend time moving between unemployment, inactivity and informal employment.
(By Otaviano Canuto)
In PREM Note 141 released last week, Milan Brahmbhatt and Luiz Pereira da Silva point to several structural differences between the global economy today and in the 1930s that tend to differentiate the current crisis from the Great Depression. The larger weight of faster-growing developing countries in the current world economy is among those differences, one that bodes well for recovery prospects.
Tables are set-up on the streets, work days are condensed, traffic is horrendous, people are fasting all day (so tempers sometimes flare) and there are gatherings and celebrations every night. Welcome to Ramadan, the Islamic Holy month, in Egypt, which this year is from August 22 – September 22 (approximately). It is also really hot this year! Ramadan is a time of giving back to communities and the poor.
As part of the lead-up to the Y2Y Global Youth Conference to take place here in Washington DC in October, the World Bank Youth-to-Youth Community is launching an essay competition on youth entrepreneurship in times of crisis.
The contest is open to all young people aged 18-30 around the world and shortlisted essays will be featured on the World Bank Y2Y website.