Global Economy Needs To Create 600 Mln Jobs Over 15 Years: World Bank

Global Economy Needs To Create 600 Mln Jobs Over 15 Years: World Bank

More specifically, there should be around 600 million more jobs in 2020 than in 2005, a majority of them in Asia and Sub-Saharan Africa, the report noted.
"It's critical that governments work well with the private sector, which accounts for 90 percent of all jobs," World Bank Group President Jim Yong Kim said. "Therefore, we need to find the best ways to help small firms and farms grow."
The quality of jobs is equally important as the number of jobs, the report said while proposing a three-stage approach to help governments achieve these objectives.
The WDR estimates that worldwide, more than 3 billion people are working, but nearly half work in farming, small household enterprises, or in casual or seasonal day labor, where safety nets are modest or sometimes non-existent and earnings are often meager.