Rising Youth Population Risks Widening Global Jobs Gap – World Bank Warns
The World Bank Group has cautioned that an estimated 1.2 billion young people are expected to enter labour markets across developing countries over the next decade, raising concerns about a growing global employment gap as many may lack the skills required by employers.
The Managing Director and Chief Knowledge Officer at world Bank Group, Paschal Donohoe, warned that a widening disconnect between education systems and rapidly evolving labour markets could leave millions of young people unprepared for future work opportunities.
Delivering a lecture at the Vice Chancellor’s Occasional Lecture Series at the University of Ghana, Mr. Donohoe underscored the urgency of addressing the challenge.
“How can young people find their footing in an economy that keeps changing beneath their feet? That question is urgent everywhere,” he said.
He stressed that the issue goes beyond statistics, highlighting the real-life implications of the mismatch between education and economic needs.
“These are not just numbers, they represent lives. There is a clear gap between the systems designed to educate people and the needs of economies that are evolving at a very fast pace. The challenge is not simply to get people into jobs, but to raise productivity and earnings across all types of work so that millions of young Africans who are already working can get ahead,” he explained.
Mr. Donohoe further noted that the nature of work is rapidly transforming, making continuous skills development essential.
“Jobs that exist today will look fundamentally different in ten years’ time. Skills that were sufficient a decade ago will no longer be adequate,” he warned.
He emphasised that the World Bank Group is placing strong focus on education, skills development and job creation as part of its development agenda. This includes strengthening foundational learning, aligning tertiary education with labour market demands, and promoting entrepreneurship.
“Every individual deserves access to quality education, the right skills, and meaningful employment opportunities to realise their full potential,” he added.
The warning by the World Bank Group comes at a time when many developing economies, particularly in Sub-Saharan Africa are experiencing a rapid surge in youth populations. This demographic trend, presents both an opportunity for economic growth and a risk of widespread unemployment if not properly managed.
Globally, youth unemployment has remained persistently high over the past decade. According to the International Labour Organization, young people are significantly more likely to be unemployed or underemployed than adults, with many engaged in vulnerable or informal work that offers low wages and limited job security.
