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October 02, 2012 at 06:01 AM
The World Bank says that the world’s economy must generate 600 million new jobs during the span of 2005–2020 to give young people work, empower women, stimulate development and quell global unrest.
Bloomberg reported Tuesday that the World Bank’s pronouncement came as part of its World Development Report, which also said that jobs should be governments’ top priorities, since lack of employment was a major factor in the Egyptian and Tunisian uprisings that resulted in new leadership. Economics was not the only factor to be considered, the report also said, since the effects of employment reach beyond the economics involved.
In the report’s foreword, World Bank President Jim Yong Kim wrote, “Demographic shifts, technological progress, and the lasting effects of the international financial crisis are reshaping the employment landscape in countries around the world.” He continued, “Countries that successfully adapt to these changes and meet their jobs challenges can achieve dramatic gains in living standards, productivity growth, and more cohesive societies.”
