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Jobs and Development

What will be the future of work?

Jim Yong Kim's picture
Also available in: Français | العربية | Español | 中文


Do you wonder if the good fortune and opportunities that you’ve enjoyed in your professional life will be available to your children, and to their children? At a time of strong global economic growth, it may seem paradoxical that we face an existential crisis around the future of work. But the pace of innovation is accelerating, and the jobs of the future – in a few months or a few years – will require specific, complex skills. Human capital will become an ever more valuable resource.

In short, the changing nature of work – and how best to prepare people for the jobs of the future – are some of the toughest challenges countries face, which is why they’re the subject of this year’s World Development Report.

Because the future of work matters to all of us, we decided to give this report an unprecedented level of transparency. For the first time since the World Bank began publishing the WDR in 1978, the report is completely transparent throughout the writing process. Every Friday afternoon, the latest draft is uploaded to the World Bank website, so that anyone with internet access has an opportunity to read it and engage with the team of authors. I can’t promise that the WDR won’t have changed a week from now, which is why I encourage you to keep revisiting it as we keep revising it.

For new readers, here are a few insights into the report’s contents that I hope will get you thinking about the future of work:

On International Migrants Day, unlocking prosperity through mobility

Manjula Luthria's picture
Also available in: 中文 | Español | العربية
We are at the cusp of entering an era of increased mobility.  Photo © Dominic Chavez/World Bank

Stories and anecdotes of how migrants contribute to our economies are everywhere. A recently released McKinsey Global Institute report put some numbers to it. Migrants account for only 3.4% of the global population but produce 9.4% of the world output, or some $6.7 trillion. That’s almost as large as the size of the GDP of France, Germany and Switzerland combined. Compared to what they would’ve produced had they stayed at home, they add $3 trillion – that’s about the economic output of India and Indonesia combined.

Combating poverty and building resilience through social protection

Michal Rutkowski's picture
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Beneficiaries from a safety net program in Madagascar, most of them women, receive regular cash grants and training on nutrition, early childhood development and leadership skills. Photo by: Mohamad Al-Arief / World Bank

In the last few decades, we have seen an increase in the number of countries investing in social protection programs. These programs help individuals and families especially the poor and vulnerable cope with crises and shocks, invest in the health and education of their children, supporting young people by developing their skills and finding jobs, and protecting the aging population.

How we’re fighting conflict and fragility where poverty is deepest

Sri Mulyani Indrawati's picture
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View from cave, Mali. © Curt Carnemark/World Bank

For the first time in history, the number of people living in extreme poverty has fallen below 10%. The world has never been as ambitious about development as it is today. After adopting the Sustainable Development Goals and signing the Paris climate deal at the end of 2015, the global community is now looking into the best and most effective ways of reaching these milestones. In this five-part series I will discuss what the World Bank Group is doing and what we are planning to do in key areas that are critical for ending poverty by 2030:
good governance, gender equality, conflict and fragility, creating jobs, and, finally, preventing and adapting to climate change.
 
By 2030, more than half of the world’s poorest people will live in very poor countries that are fragile, affected by conflict, or experience high levels of violence
 
These are places where governments cannot adequately provide even basic services and security, where economic activity is paralyzed and where development is the most difficult.  It is also where poverty is deepest. The problems these countries face don’t respect borders. About half of the world’s 20 million refugees are from poor countries. Many more are displaced within their own country.

Solutions for youth employment - a major step forward

Delores McLaughlin's picture
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International Youth Day is a time to consider the situation of young people in labor markets. Worldwide, an unprecedented number of young people are not working and not in school or training. Many are discouraged due to lack of opportunities and no longer looking for work.  

Arup Banerji: Universal access to social protection at the core of World Bank Group's twin goals

Arup Banerji's picture
Yesterday, the World Bank Group together with the International Labour Organization (ILO) announced a mission and a plan of action towards universal access to social protection. I share my thoughts on how this announcement is at the core of the Bank's goals of ending poverty and boosting shared prosperity, and how universal access to social protection is linked to the sustainable development goals. 

Why we have to #Get2Equal

Sri Mulyani Indrawati's picture
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Also available in Bahasa Indonesia

Women are emerging as a major force for change. Countries that have invested in girls’ education and removed legal barriers that prevent women from achieving their potential are now seeing the benefits.

Let’s take Latin America. More than 70 million women have joined the labor force in recent years. Two-thirds of the increase in women’s labor force participation in the last two decades can be attributed to more education and the fact that women marry later and have fewer children. As a result, between 2000 and 2010, women's earnings contributed to about 30% of the reduction in extreme poverty in the region.
 
Women are often paid far less than men, while they also perform most
of the world’s unpaid care work. © Mariana Ceratti/World Bank

In fact, for countries to leave poverty behind, both men and women need to get to equal and push the frontiers of equal opportunities even further. But to get there, we need to tackle three issues.

First, violence against women needs to end. More than 700 million women worldwide are estimated to have been subject to violence at the hands of a husband or partner. Domestic violence comes with great cost to individuals but also has significant impact on families, communities, and economies. Its negative impact on productivity costs Chile up to 2% of its GDP and Brazil 1.2%. 

Many girls and women have little control over their sexual and reproductive health: If current trends persist, more than 142 million girls will be married off over the next decade while they are still children themselves.

Jobs for Youth: A Winning Strategy to End Global Poverty

Arup Banerji's picture
Also available in: العربية | Español | Français


Over the past year, much attention in the development community has been focused on reaching two global milestones by 2030: ending extreme poverty and promoting shared prosperity. The World Bank Group and the International Youth Foundation, together with many of our public, private, and philanthropic partners, have recognized that to reach such ambitious goals, the world must achieve broad-based and inclusive economic growth that is focused directly on youth and jobs. Here's why we think pursuing this strategy is such an urgent priority.

2014 Annual Meetings Guide to Webcast Events

Donna Barne's picture

How can economic growth benefit more people? What will it take to double the share of renewables in the global energy mix? Will the world have enough food for everyone by 2050? You can hear what experts have to say on these topics and others, ask questions, and weigh in at more than 20 webcast events from Oct. 7 to 11. That's when thousands of development leaders gather in Washington for the World Bank-International Monetary Fund Annual Meetings. Several events will be live-blogged or live-tweeted in multiple languages. You can also follow the conversation on Twitter with #wblive and other hashtags connected to events. We’ve compiled a sampling of events and hashtags below.  Check out the full schedule or download the Annual Meetings app for Apple devices and Android smartphones.