The enormity of the global job-creation challenge is underscored in a comprehensive new analysis by the International Finance Corporation, which issued a wide-ranging Jobs Study at a recent IFC forum on the urgency of the unemployment crisis. More than 200 million people are now unemployed worldwide – with another 1.5 billion people only marginally employed, and with an additional 2 billion working-age adults neither working nor seeking a job.
The need for stronger and more sustainable job creation will intensify with the approach of a global demographic surge. More than 600 million people will enter the work force – just in the developing world – within the next 15 years. And that figure, quantifying the painful withering of human capital caused by the unemployment crisis doesn’t even count the job-growth needs in the crisis-stricken wealthy nations.