According to The Africa Competitiveness Report 2017, Africa is forecasted to produce just 100 million new jobs by 2035, while the working age population is projected to grow by more than 450 million. The fastest population growth will occur in the 15 to 35-year-old demographic. This growing working-age population presents both an opportunity and a potential risk to Africa’s future prosperity. To ensure these new workers engage in productive livelihoods and prevent significant increases in extreme poverty and civil unrest, governments will need to enable job creation, including scaling cost-effective livelihood development programs targeting the extreme poor. Described below is a cost-effective approach which is yielding promising results and scaling through results-based financing.
One out of ten people in the world —around 766 million people— still lived below the extreme poverty line in 2013. Most of them, 80 percent, live in rural areas and have very low productivity jobs. Improving jobs and earnings opportunities for these poor and vulnerable workers is at the core of the World Bank Group agenda and it requires holistic economic inclusion initiatives to move them into sustainable livelihoods.
Over the next several decades, Pakistan is poised to become the fourth most populous country in the world. With nearly 53 million active youth (under 25) and a high youth unemployment rate, the challenges of inclusion and empowerment of these young people will continue to grow. Gender disparities also persist with Pakistan having one of the lowest female labor force participation rates in the South Asia region.
How is the World Bank helping countries create more and better jobs? Do we need new strategies in the new world of work reshaped by new technologies and other global challenges? In this video interview with David Robalino, manager of the Jobs Group at the World Bank, we introduce two new partnerships for tackling the multi-pronged challenges of job creation in a comprehensive approach.
Tomorrow is International Youth Day!
This year, we have reasons to celebrate. Globally, more and more young people are receiving an education and women are making some progress in key indicators like life expectancy and economic engagement outside the home. But there persist urgent reasons to double down on efforts to engage the global youth population in productive work:
1 in 4 young people in the world cannot find jobs paying more than $1.25 per day, the international threshold of extreme poverty.
Youth are at the heart of migration. Between 2010 and 2015, the estimated net inflow of young people of working age population was 14.8 million.
Janine Berg, guest blogger, is a Senior Economist at the International Labour Organization (ILO)
Efforts to extend social security to workers in non-standard employment and to build a social protection floor are critical for reducing poverty and part of the challenge of addressing informal employment.
Focusing on improving women’s skills alone is not enough to enable them to take advantage of economic opportunities. Our study of a program in Bangladesh shows that ensuring labor market participation for the socially excluded requires more than imparting income opportunities via training or asset transfers.