Labor and Social Protection
The socioeconomic challenges facing Algeria are many, the most urgent of which is without doubt youth unemployment. In a July 5 interview with the weekly, Jeune Afrique, Mr. Issad Rebrab, the CEO of Algeria’s leading private industrial group Cevital, ran through the raw facts: “Our unemployment rate is 10%, but youth unemployment is above 35%”. He added: “Algeria must move swiftly towards diversifying its economy and creating jobs.”
Do you believe that information & communication technologies and innovation can help end poverty in your country? Share your reflections and get your voice counted by policymakers and development professionals.
The numbers are staggering. Almost one third of the populations of Algeria and Morocco are under the age of 15, with Tunisia following close behind. This ‘youth bulge’ is placing immense pressure on the education systems of the Maghreb.
International labor markets are perhaps the last bastion of protectionism. We know that easing restrictions on the movement of people, especially the less skilled, can unleash huge welfare gains which by some estimates dwarf the gains from complete trade liberalization. And yet, progress on this front has been too slow.
I landed in Chisinau on a short flight from Frankfurt a mere two years ago. I immediately liked this vibrant and cosmopolitan city built with white limestone and awash with greenery, and remember thinking that it has the potential to attract scores of tourists. But tickets to fly into Chisinau were expensive in 2011.
I also recall so vividly my first trip through the Moldovan countryside shortly after. An amalgam of bright green leaves on walnut trees contrasted the yellow of the sunflowers that grow in fields with some of the most fertile soil in the world. I was immediately struck by the immense potential that Moldova holds in agriculture.
Good things have happened since then.
Microfinance – defined as the access to and usage of quality financial services, including savings, credit, insurance and money transfer systems - is crucial for low-income households to manage cash flows to finance day-to-day living, manage risks, invest productively, and respond to financial shocks.
The low levels of financial inclusion in the Middle East and North Africa region, however, have left many with limited access to any sort of financial services. This is especially true for certain groups such as women and young people.
|By 2016, around 12.4 million Filipinos would be unemployed, underemployed, or would have to work or create work for themselves in the low pay informal sector by selling goods like many seen here in Quiapo, Manila.|
The Philippines faces an enormous jobs challenge. Good jobs—meaning jobs that raise real wages or bring people out of poverty—needed to be provided to 3 million unemployed and 7 million underemployed Filipinos—that is those who do not get enough pay and are looking for more work—as of 2012.
In addition, good jobs need to be provided to around 1.15 million Filipinos who will enter the labor force every year from 2013 to 2016. That is a total of 14.6 million jobs that need to be created through 2016.
Did you know that every year in the last decade, only 1 out of every 4 new jobseeker gets a good job? Of the 500,000 college graduates every year, roughly half or only 240,000 are absorbed in the formal sector such as business process outsourcing (BPO) industry (52,000), manufacturing (20,000), and other industries such as finance and real estate.
Youth unemployment has grown in prominence on national and global development agendas. In 2007, nearly 70 million young people were out of work. This figure climbed to 72.6 million by 2011. In 2012, young people made up more than 40% of the world’s total unemployed population.
This week’s mass demonstrations in Egypt and assassination of an opposition leader in Tunisia -- not to mention the continuing conflict in Syria -- highlight the turmoil and uncertainty facing many countries in the Middle East and North Africa.To track the effects of these and other developments on the economy, the MENA Quarterly Economic Brief provides a real-time review, using high-frequency data, of five countries that are at risk of sluggish economic growth in 2013.