The World Bank Group has raised grave concerns about the looming global employment gap, indicating that many of the world’s youth, about 1.2 billion, particularly from developing countries, expected to enter into the global labour market are without skills required by employers.
Delivering a speech at the Vice Chancellor’s Occasional Lecture Series at the University of Ghana on Monday, 16 March Paschal Donohoe, Managing Director and Chief Knowledge Officer of the World Bank Group, shed light on the ever-growing dissonance between education systems and rapidly evolving labour market demands.
“How can young people find their footing in an economy that keeps changing beneath their feet? That question is urgent everywhere,” he said.
Donohoe stressed that the challenge extends beyond job creation to ensuring that employment translates into improved productivity and earnings, particularly for young Africans already in the workforce.
“These are not just numbers, they are lives—a gap between the systems that have been built to educate people and the needs of economies that are changing at a very fast pace,” he noted.
He warned that the nature of work is undergoing significant transformation, rendering many existing skills obsolete.
“Jobs that exist today will look fundamentally different in ten years’ time. Skills that were sufficient a decade ago will not be sufficient today,” he said.
Donohoe indicated that the World Bank Group is placing renewed emphasis on education, skills development, and job creation as part of its broader development agenda. This includes strengthening foundational learning, aligning tertiary education with labour market needs, and promoting entrepreneurship.
“Every individual deserves the education, the skills and the opportunity to access meaningful employment and to realise their full potential,” he added.
