The demographic dividend has been touted as a potential source of growth for the African continent and its relatively young population. In the same vein, it comes with the challenge of employment creation that can absorb the large cohort of youth that is set to enter sub-Saharan
Africa’s labor markets in the approaching decades. Less positively, however, countries that fail to plan accordingly might miss these potential opportunities or the resulting youth bulge could increase the risk of social tension and other risks arising from high youth unemployment rates.
According to the World Bank Development Report on Digital Dividends (2016), the rapid spread of digital technologies around the world is boosting economic growth and expands opportunities in many instances; but the benefits of technological changes are not evenly distributed to workers globally. For high-skilled workers, technology in most cases complements their skills, increases their productivity, and often leads to higher wages.
The Global Youth Economic Opportunities Summit is a global convening that brings together 500+ leading stakeholders from 55 countries to connect, exchange, and collaborate. Now in its 11th year, the Summit is the largest convening of its kind in North America for the youth economic opportunities community.
Young people currently make up the largest youth population in history, and throughout the world they face a common challenge: persistent youth unemployment. Citi Foundation, a CGAP member, is investing $100 million globally over the next three years as part of its Pathways to Progress program to prepare 500,000 young people ages 16-24 for today's competitive job market.
African youth lead varied and complex lives. They face diverse situations and opportunities. The recurring theme is one of challenge. On one hand, Africa is experiencing unprecedented population growth, with limited formal sector employment prospects. Despite new economic opportunities, formal jobs and wage employment remain elusive. On the other hand, investments in primary education have created better access to education and have contributed to a new era of prosperity and opportunity across Africa, yet opportunities for youth are uneven across the continent.
Instead of prescribing higher education as the silver-bullet solution to poverty, we must provide diverse and contextualized pathways to disadvantaged children, enabling them to redefine the dominant narrative of success.
Global Money Week (GMW) is an annual global celebration, initiated by Child & Youth Finance International (CYFI), with local and regional events and activities aimed at inspiring children and youth to learn about money, saving, creating livelihoods, gaining employment and becoming an entrepreneur.
The world’s education systems are failing our children by not preparing them for the workplace of the future. This is the key finding of a new report by the World Economic Forum, Realizing Human Potential in the Fourth Industrial Revolution, which puts forward a series of practical measures for aligning education and training with future job requirements.
There was silence in the room. No one seemed to want to speak up. I asked again: “what are the most important challenges that you face every day?” Suba, a young woman in her early 20s living in Tripoli, one of the regions with the highest poverty levels and concentration of Syrian refugees in Lebanon, finally raised her hand and said: “We are unemployed and have no access to basic services. We are sympathetic to the Syrian refugee cause. However, they are taking our jobs.
Young people play a vital role in fostering global economic development.In the face of weak prospects for global economic growth, their involvement in the formal economy becomes increasingly relevant and urgent. In recent years, there has been much talk about the demographic dividend in most emerging economies and less-developed countries, a scenario where a larger proportion of the overall population is of working age.