The latest African Economic Outlook paints a promising picture for the continent, but crucially, it also warns that the scourge of youth unemployment will impact severely on the capacity of African states.
The latest African Economic Outlook (AEO) has been released, and it’s optimistic. A joint project of the African Development Bank (AfDB), the OECD Development Centre, the United Nations Economic Commission for Africa (UNECA) and the UN Development Programme (UNDP), the AEO predicts that Africa will continue to be one of the fastest-growing regions in the world, having escaped the worst of the global financial crisis. In fact, the continent has seen year-on-year economic growth while economies in Europe and the US stagnate under pressure from the recession. In line with this trend, Africa is expected to grow 4.5% this year and 4.8% next.
The news is, however, not all rosy. The report warns that the sheer scale of jobless growth, coupled with the world’s youngest population, gravely imperils further progress. According to the AEO, Africans aged between 15 and 24 currently comprise 60% of the continent’s unemployed.
More worryingly, 22 million of those 40 million unemployed young people have already abandoned their search for a job. And the situation is set to worsen – the number of young people in Africa is expected to double to around 400 million by 2045, from 200 million currently…
The highest percentage of the unemployed masses is youths. According to the Africa Development Indicators report released by the World Bank, youth unemployment is at 83 percent in Uganda. About 256,700 youths can’t find jobs every year in Uganda. Sacrifices made behind the scenes Many parents have paid the price. In the past, most felt … Continue reading »
Three out of five unemployed in sub-Saharan Africa are young. This video explores the importance of Technical and Vocational Education and Training (TVET) in giving young people in Africa a better chance for finding jobs. It is published by UNESCO’s Regional Office for Education in Africa, based in Dakar, Senegal (2011).
SOUTH Africa’s unemployment rate declined to 24,9% in the second quarter of 2012 from 25,2% in the first quarter‚ Statistics South Africa (Stats SA) said on Tuesday. The expanded unemployment rate‚ which includes discouraged workers‚ also declined — to 36,2% from 36,6% in the previous quarter. Stats SA deputy director-general Kefiloe Masiteng has described the … Continue reading »
Despite Liberia’s significant gains over the last decade, the benefits of the growth have not reached the country’s poorest and most vulnerable citizens, says World Bank Country Manager, Madam Inguna Dobraja. Even with robust economic growth, Liberia cannot fully address the needs of vulnerable people without a clear, comprehensive social protection intervention, she said. The …Continue reading »
Cash remittances sent home by migrants, a major part of developing world revenue, have grown faster than expected despite the world financial crisis, the World Bank said Tuesday. In an update to its annual report on remittance flows, the development lender said recorded transfers increased by 12.1 per cent last year to $372 billion and … Continue reading »
The Millennium Development Goals (MDGs) agreed to by world leaders over a decade ago have achieved important results. Working together, Governments, the United Nations family, the private sector and civil society have succeeded in saving many lives and improving conditions for many more. The world has met some important targets—ahead of the deadline. • Extreme poverty …Continue reading »
Last month, a stampede at the University of Johannesburg killed the mother of a potential student, and injured several other people writes Sarah Emily Duff, an NRF postdoctoral research fellow at Stellenbosch University, South Africa. Thousands of parents and prospective students had turned up to register – in all, around 85,000 students applied for only 11,000 places. … Continue reading»
Rwanda received US$ 626 million worth of investments from both foreign and local investors in 2011, a development that is expected to create about 9,060 new jobs. According to Rwanda Development Board’s 2011 statistics, the jobs were made available by 6,000 investment projects that the agency registered as of December 31, 2011. Agriculture, the country’s … Continue reading»
“Conventional wisdom suggests that international migration of the highly skilled from poor to rich countries — the so-called brain drain phenomenon — threatens development.” writes the OECD in its new report Migration and the Brain Drain Phenomenon. It then adss: “Comparing emigration rates of the highly educated — the share of a country’s nationals with a … Continue reading »