Economic growth has the power to transform societies, boost incomes, and enable citizens to thrive. But growth alone is not enough, so disclosed International Development Association (IDA).
IDA under World Bank Group, resource material indicated that to reduce poverty and ensure shared prosperity, growth that creates more, better, and inclusive jobs is needed.
The periodical material pointed out that improving financial access, strengthening skills training, supporting a strong private sector and building sustainable infrastructure helps connect people to job opportunities, which help reduce poverty in the poorest countries.
Regarding the challenges, particularly, in developing countries, the paper stated that the challenges facing developing countries are immense. More than 200 million people worldwide, disproportionally youths, are unemployed, while another two million working age adults, mostly women, remain outside the workforce .Around 600 million jobs must be created by2030 to increase employment rates and absorb the youth entering the labor market. This requires supporting the private sector’s growth.
It also noted that economic transformation is about changing the nature of jobs, of changing what people do, where they do it and how they do it. Just having a job is not enough; what makes a difference is having a more productive job, with good working conditions, and social protection. Besides creating as many formal jobs as possible, it is also crucial to improve productivity and earnings of jobs in the informal sector, the paper remarked.
The written material mentioned that the jobs diagnostics undertaken by the World Bank show clearly that the degree of economic transformation determines how widespread job creation will be and the extent of productivity and income gains that result from these jobs.
“IDAhas a well-established track record of supporting economic growth and investments that create jobs and boost incomes.” The paper underscored.
In reference to Benin and Burkina Faso experiences, the written document noted that in Benin from 2014-2018 not less than 19,790 underemployed youths were trained in employment skills and employment opportunities were provided to underemployed youths, of whom 51.4 percent were women.
The paper also indicated that close to 2,991 youths received a professional certificate qualification for mastery of trade skills. Over 14, 340 youths satisfactorily completed small business and life skills training, and 1,069 master artisans received skills upgrades.
As the paper mentioned, In Burkina Faso, from 2013-2018, not less than 52,737 out of school youths were provided temporary employment and skills development opportunities. About 40.2 percent of youth trained were employed or self-employed one year after completion of the training.
According to the information package, not less than 2.2 million days of work were generated, resulting in rehabitation of 63.4 kilometers of rural roads and 51.9 percent of urban roads. And not less than 37,812 youths were employed through labor intensive physical work.
The Ethiopian Herald June 30, 2019
BY MEHARI BEYENE
