The International Finance Corporation, the private sector development arm of the World Bank, will on Wednesday launch a $2bn initiative aimed at narrowing the skills gap among young people in the Arab world.
The region suffers from the highest youth unemployment in the world at more than 25 per cent, while labour force participation rates are only 35 per cent compared with 52 per cent internationally, according to a report by McKinsey, the consultants, commissioned by the IFC.
Such is the demographic profile that just to maintain current average unemployment rates, the region needs to create an additional 35m-40m extra jobs, the report said.
No comments:
Post a Comment