Job Market Monitor
World Bank
COVID and the Global Economy – The worst recession since World War II with a drop 5.2% this year says the World Bank
World Bank Global Economic Prospects forecasts say global economy will shrink 5.2% this year, using market exchange rate weights. The swift and massive shock of the coronavirus pandemic and shutdown measures to contain it have plunged the global economy into a severe contraction. According to World Bank forecasts, the global economy will shrink by 5.2% … Continue reading
Global Extreme Poverty – Decline continues but has slowed
Fewer people are living in extreme poverty around the world, but the decline in poverty rates has slowed, raising concerns about achieving the goal of ending poverty by 2030 and pointing to the need for increased pro-poor investments, the World Bank finds. The percentage of people living in extreme poverty globally fell to a new … Continue reading
Global Extreme Poverty – Less than 10 percent for the first time World Bank says
The World Bank provided some relief from bad news this week with some fresh, positive data: For the first time ever, it estimates that the number of people around the world living in extreme poverty will fall below 10 percent. Using an updated international poverty line of USD $1.90 a day, the Bank estimated that global poverty has fallen from … Continue reading
India – Only 27% candidates enrolled in skill dev programmes got jobs
Only 27 per cent of the candidates enrolled in five national skill development programmes managed to secure jobs, says a World Bank study. “As per interim findings of the report, 27 per cent of candidates enrolled in the above skill development programmes found employment. “Some of the reasons for non-employment include resistance to migration, pursuit … Continue reading
Social Safety Nets In In Developing Countries – A World Bank report
What Are Social Safety Nets? * Social safety nets are non-contributory transfers designed to provide regular and predictable support to targeted poor and vulnerable people. These are also referred to as “social assistance” or “social transfers.” Social safety nets are part of broader social protection systems that may also include measures such as contributory insurance … Continue reading
East Asia Pacific – more than 30% of people ages 15 to 24 are completely left out—they have neither a job nor receive any education or training says World Bank Report
KEY FINDINGS In the last 20 years, East Asia Pacific saw rising productivity amid a brisk structural transformation, with large movements of people into cities and higher output in agriculture, manufacture and services. Countries that were poor a generation ago successfully integrated into the global value chain, taking advantage of low labor costs. The unprecedented … Continue reading
Lybia / Public sector employs more than 80 percent of workforce, the private sector just 4 percent
“Libya’s labour market is skewed toward the public sector, which employs more than 80 percent of the formal workforce, while the private sector employs just 4 percent of Libyans”, the World Bank reported in its latest January MENA Quarterly Economic Brief. “Furthermore”, the report continued, “attractive wages and benefits offered by the public sector have … Continue reading
World Bank on Europe and Central Asia / Creating More and Better Jobs
The World Bank recommends actions for creating more jobs and making them more accessible HIGHLIGHTS A new regional report examines the role of policy reforms, firms, skills, incentives and barriers to work in Europe and Central Asia, and ways to create more and better jobs. Report suggests that countries must regain their momentum for economic … Continue reading
India / World Bank calls National Rural Employment Guarantee Act a stellar example
The World Development Report 2014 has described the Mahatma Gandhi National Rural Employment Guarantee Act as a “stellar example of rural development\”. At the heart of the World Bank’s endorsement is the direct cash transfer (to bank and postal savings accounts) component of the rural employment programme. NREGA has been described as the perfect example … Continue reading
Philippines’ Job Market / Tri-partite coalition needed says World Bank
Citing the country’s stellar economic growth and political stability, the World Bank said implementing reforms needed to address lack of jobs in the country is now Continue reading
ICTs Are Expanding Job Opportunities Worldwide says the World Bank
Information and communication technologies (ICTs) are transforming the world of work, creating new job opportunities and making labor markets more innovative, inclusive, and global. Three trends are driving this shift: greater connectivity, the ability to telecommute and outsource work, and globalization of skills. According to a new World Bank policy note, “Connecting to Work: How … Continue reading
Niger / WB promotes youth entrepreneurship to boost employment
In Niger, a country where 67% of the population is under 25 years of age, the problem of youth unemployment and underemployment is acute, given that the lack of job opportunities threatens to undermine the country’s political and economic stability. “You, the young people of Niger, have the potential to become an engine for development … Continue reading
Philippine / Only a fourth land good jobs says WB
The World Bank said that the Philippines need to create 14.4 million good jobs- jobs that raise real wages and bring people out of poverty- until 2016. The Washington-based agency in the latest Philippine Economic Update said there were 10 million people unemployed or underemployed as of 2012 and with 1.1million new entrants each year, … Continue reading
Arab countries should embrace knowledge economy says the World Bank
The report: Transforming Arab Economies: Travelling the Knowledge and Innovation Road, published by the World Bank, Centre for Mediterrannean Integration (CMI) and European Investment Bank, shows how an economy based on innovation and knowledge can help promote greater economic growth and spur competitiveness. Inger Andersen, Vice-President for the Middle East and North Africa at the … Continue reading
Sri Lanka / Obstacles to creating jobs should be removed says the World Bank
Sri Lanka can help citizens better themselves by removing obstacles to creating new and better jobs, including for women, the World Bank said. The development agency based on the theme of its World Development Report 2013, says creating opportunities for jobs are critical for reducing poverty. “One of the biggest challenges facing Sri Lanka is … Continue reading
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