. The sector is an engine of job creation: , while the share of jobs across the food system is potentially much larger. In Ethiopia, Malawi, Mozambique, Tanzania, Uganda, and Zambia, the food system is projected to add more jobs than the rest of the economy between 2010 and 2025.
. As we said in this month’s Global Economic Prospects report, for the first time since the financial crisis, the World Bank is forecasting that the global economy will be operating at or near full capacity. We anticipate growth in advanced economies to moderate slightly, but growth in emerging markets and developing countries should strengthen to 4.5% this year.
When we talk about the future of work, it is important to include perspectives, ideas and solutions from young people as they are the driving force that can shape the future. As we saw at the recent Youth Summit 2017, the younger, digitally-savvy generations —whether they are called Millennials, Gen Y, or Gen Z— shared solutions that helped tackle global challenges. The two-day event welcomed young people to discuss how to leverage technology and innovation for development impact. In this post, we interviewed —under a job-creation perspective—finalists of the summit's global competition.
- private sectors
- Social Entrepreneurship
- Youth Summit
- Agriculture and Rural Development
- Labor and Social Protection
- Information and Communication Technologies
- Global Economy
- Financial Sector
- Climate Change
- Latin America & Caribbean
- South Asia
- East Asia and Pacific
- South Africa
Automation is heralding a renewed race between education and technology. However, the ability of workers to compete with automation is handicapped by the poor performance of education systems in most developing countries. This will prevent many from benefiting from the high returns to schooling.
Schooling quality is low
The quality of schooling is not keeping pace, essentially serving a break on the potential of “human capital” (the skills, knowledge, and innovation that people accumulate). As countries continue to struggle to equip students with basic cognitive skills- the core skills the brain uses to think, read, learn, remember, and reason- new demands are being placed.
Economic research is essential for designing and implementing evidence-based solutions to improve job opportunities. In a recent conference organized by the World Bank and IZA, researchers from around the world presented over 30 research papers on important labor topics such as migration, gender, youth employment, and labor policies in low-income countries. Here is an illustrative sample of four innovative works presented during the conference.
While historically confined to medical and academic research, challenge funds – competitive financing for innovative solutions to entrenched problems – have gained traction in the international development field over the last decade.
Pioneered by the UK Department of International Development (DFID), challenge funds have championed transformational disruptive technologies, such as M-Pesa, Kenya’s mobile money transfer service. The electronic payment system, which allows users to withdraw, deposit and transfer cash through their mobile phones, started as a pilot project funded by DFID’s Financial Deepening Challenge Fund. Today, more than two thirds of Kenyans use the channel, and the innovation has changed the scope of financial inclusion programs globally.
. As highlighted in the 2016 World Development Report “Digital Dividends”, we find ourselves amid the greatest information and communications revolution in human history and must take advantage of this rapid technological change to make the world more prosperous and inclusive. , share their ideas and learn from one another while discussing the challenges and opportunities created by this technological shift.
Finding a good job is increasingly difficult – especially for young people. Globally, young people are up to four times more likely to be unemployed than adults. Furthermore, the lack of opportunity can have devastating consequences for their long-term employment outcomes. Youth often lack the skills and competencies that are in high demand from employers, but they also face information gaps about which relevant skills they should signal to prospective employers.
To better understand youth and skills trends in emerging markets, the Solutions for Youth Employment (S4YE) Coalition embarked on a research collaboration with LinkedIn to analyze demand and supply side data from 390,000 entry-level job postings and 6.4 million LinkedIn profiles of young people (aged 21-29) in four diverse middle-income countries. Using big data analytics, the recently released report The Skills Gap or Signaling Gap: Insights from LinkedIn in emerging markets of Brazil, India, Indonesia, and South Africa brings the following three insights on what skills employers in those countries are looking for in youth hires.
The way we communicate, produce, and relate to technology is evolving quickly.
Tell me something I don’t know, you’ll say.
That’s where Benedict Evans, a prominent tech guru from the venture capital firm Andreessen Horowitz ('a16z') in Silicon Valley, comes in. In a recent presentation at the World Bank (Mobile is Eating the World) Evans shared inspiring, and at times, unnerving insights on how technology is shaping our world and how it might impact the global development community. Here are some key takeaways: