Tuesday, October 02, 2012

600 million jobs in 15 years!

The World Bank says that the world needs to create 600 million jobs over the next fifteen years. This amount of job creation will be needed to keep the same levels of employment as we have now, and that is not all that high to begin with.

The World Bank focused on jobs in their latest World Development Report. The Bank says that it is not the amount of jobs that matter, but the kinds of jobs. As an example, one can be employed in farming, but it won't help them much if their crops keep getting flooded.

From this Reuters story that we found at the Huffington Post, writer Anna Yukhananov delves into the report deeper.
"It is not just the number of jobs, it is also what people do," said Martin Rama, the director of the World Bank's annual World Development Report. This year, the report focused on how employment impacts overall well-being for societies, looking at examples culled from more than 800 surveys and censuses.
As an example, Rama pointed to Mozambique, where a commodities boom has fueled one of the highest growth rates in sub-Saharan Africa. But more than 80 percent of the country's citizens work in agriculture, where poverty rates remain stubbornly high.
Governments should focus on boosting employment in areas that would have the most positive spillover effects on society as a whole. For example, more jobs for women has been tied to greater investment in education and health, while reducing employment barriers for young men could improve social cohesion.
"Jobs themselves are a driver of development," said Kaushik Basu, who on Monday began his job as World Bank chief economist.
In Tunisia, a high growth rate did not translate into more jobs for young people, as bureaucratic red tape and unequal treatment limited the creation of new businesses. The country erupted into turmoil in 2010, which later sparked revolts across North Africa and the Middle East.

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