World Bank President Ajay Banga has warned of a growing global employment crisis, especially in developing countries, over the coming years.
He stated that in the next 10 to 15 years, nearly 1.2 billion people in developing nations will reach working age. However, only around 400 million jobs are expected to be created during the same period. This gap could lead to significant economic and social challenges.
Banga highlighted the urgent need for countries to focus on sectors that can generate large-scale employment. He suggested that agriculture, manufacturing, and tourism should be given priority to create more job opportunities.
The warning comes amid concerns about economic growth, population trends, and the ability of economies to absorb a rising workforce. The imbalance between job demand and supply could affect stability in many regions.
He emphasized that timely action and policy planning are essential to address the issue effectively.
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