The Global Jobs Challenge – Paperback

The world faces a jobs challenge of historic proportions that will shape global prosperity and stability for decades to come. Between 2025 and 2035, around 1.2 billion young people in emerging market and developing economies are set to reach working age, the largest youth cohort the world will likely ever see. Jobs are essential to reducing poverty, promoting shared prosperity, building self-sufficient economies, and strengthening social stability. In the recent past, many countries have struggled to generate enough jobs during periods of large inflows of young people into the working-age population. Today, the task is even more difficult. Many of the most-affected economies are entering this period with low per-capita incomes, high debt, and limited room for policy action. The effects of recent crises add to these pressures. At the same time, global growth has slowed, traditional export-led growth strategies look harder to execute, and structural and technological shifts such as the rise of AI and the energy transition create new uncertainties. There are also strong reasons for hope. This starts with young people themselves: this record cohort is better educated than previous generations and has enormous potential. There are success cases from regions that have seen large influxes of young people in the past. If sufficient job opportunities can be created, today s young people could drive economic and development progress for decades to come. This study offers a wide-ranging assessment of the global jobs challenge. It explores demographic and labor market trends, explains why the challenge has become more complex, and discusses policies to address it. The study highlights three policy pillars: foundational infrastructure (physical, human, and digital capital), a business-friendly environment, and mobilization of private capital. Complementary policies focus on five sectors identified by the World Bank Group with high potential for resilient, large-scale job creation: infrastructure (including energy), agribusiness and farming, health, tourism, and value-added manufacturing. Success will depend on comprehensive national strategies adapted to country circumstances, with the international community also playing its part. With determined action, this demographic wave can become a powerful engine of growth, poverty reduction, and shared prosperity.