World faces risk of shortage of up to 800 million jobs in coming years
The head of the World Bank, Ajay Banga, warned that over the next 10-15 years, the global economy might not be able to provide enough jobs for a significant number of people, potentially leaving up to 800 million without employment.
According to Banga, about 1.2 billion people from developing countries are expected to enter the labour market, while economies will be able to create only around 400 million job opportunities. Experts warn that such a wide gap between labour supply and demand could lead to political instability.
Furthermore, there is a risk of increased illegal migration due to the lack of legal employment opportunities, which may exacerbate social and economic challenges worldwide.
This situation calls for governments and international institutions to develop strategic responses to mitigate the impact of the growing disparity between job availability and the workforce.
Given these forecasts, we can expect increased tension in labour markets and a greater need for global solutions to maintain economic stability.
