World Bank Warns of 800 Million Job Gap as Youth Population Grows

The World Bank has warned that about 1.2 billion young people could enter the global labour market within the next 10 to 15 years, while only 400 million jobs may be created. This could leave a shortfall of roughly 800 million jobs, worsening poverty and instability in developing countries. At the IMF and World Bank Annual Meetings in Bangkok, World Bank President Ajay Banga said governments must use public funds more effectively and draw private investment into job-creating sectors. He identified small businesses, reliable power, transport, internet access, education and skills development as key to expanding employment. The warning is relevant to Nigeria and other African countries facing high youth unemployment, limited infrastructure and pressure on public finances. The World Bank said its Mission 300 programme has connected 59 million Africans to electricity, with a target of reaching 300 million people by 2030.

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