(See also Cross-Cutting Solution Areas.)
World Bank Group and Jobs
One of five new Cross-Cutting Solution Areas, Jobs is the cornerstone of economic and social development. Access to jobs and increasing wages is critical for the World Bank Group's mission of reducing poverty. Good, steady jobs and living wages will help the world end extreme poverty by 2030 and build more inclusive societies.
Nothing drives poverty reduction as much as access to jobs and increasing wages, World Bank research shows. The World Development Report 2013 calls jobs a cornerstone for development that connects living standards, productivity, and social cohesion—all critical for achieving inclusive growth.
Keeping people in growing nations employed will be a challenge, however. The International Labour Organization estimates that more than 400 million more jobs must be created worldwide between 2012 and 2022 to keep unemployment from rising.
World Bank and Jobs
The World Bank works with client countries to give poor people—especially women and young people—better access to the labor market. It supports employment training initiatives, credit services, small business development, and other labor-related programs in dozens of countries. The Bank is also working with clients to reform and strengthen labor protection laws.
Underpinning such projects is a large body of analytical work on jobs and employment that guides World Bank programs. Such research covers labor market developments, wage inequality, job creation strategies, and much more. The Bank's work to expand job markets and opportunities takes many shapes and forms. As an example, the Bank is financing a $30 million, six-year program in Niger that focuses on vocational training to try to reduce youth unemployment. The program seeks to promote entrepreneurship by targeting 11,000 people ages 15 to 25.
A recent World Bank initiative, the Jobs Knowledge Platform, mobilizes a broad range of institutions and advocates brainstorming on how to create and improve jobs worldwide. The platform offers videos, blogs, research, data, information on a range of labor-related topics, and a jobs database.
In fiscal 2014, the World Bank's labor-related lending totaled $218 million. From fiscal 2011 to fiscal 2013, the Bank supported 1.5 million new labor
The Employment Generation Program for the Poorest (EGPP) Project provides short-term employment on community subprojects to enable households to better cope with vulnerability in Bangladesh. The EGPP has provided a secure and regular source of income to more than 700,000 of the poorest people; more than 33 percent of them are women. ©World Bank/ Scott Wallace (photographer). Permission required for reuse.
market program beneficiaries, half of whom were female.
IFC and Jobs
IFC believes the private sector—which accounts for 9 out of every 10 jobs—is critical to creating more and better jobs. As the world's largest global development institution focused on the private sector, IFC works with private businesses in more than 100 countries to foster the right kind of job growth. IFC works to ensure that jobs are created for both men and women—including youth—and that these jobs are sustainable and productive; that they offer fair pay and good working conditions; and that they provide opportunities to advance. In 2013, IFC clients directly supported about 2.6 million jobs.
IFC also works with financial institutions to increase lending to micro, small, and medium enterprises—which in turn employ more than 100 million people. But direct jobs are only a small part of the story. For example, IFC estimates that across value chains, every direct job may lead to as many as 20 indirect jobs.
MIGA and Jobs
MIGAs support for private sector investments helps encourage growth and job creation in developing countries. The Agency works in a number of sectors, including agribusiness, infrastructure, manufacturing, power, services, and transportation.
For more information, please see the individual entries for each of the following journals:
• World Bank Economic Review
• World Bank Research Observer
Kim, Jim Yong
(See Presidents of the World Bank Group.)
(See also World Bank Group Publications.)
Knowledge sharing at the World Bank Group has evolved over time. From an early emphasis on capturing and organizing knowledge, the focus is now on enabling knowledge to be freely modified, adapted, and used as an essential tool for reaching the twin goals of ending extreme poverty and boosting shared prosperity.
In 2014 the World Bank Group underwent a historic institutional change that entailed the creation of Global Practices and Cross-Cutting Solution Areas. This change will encourage and support knowledge flows across the Bank Group, enabling client countries to more readily benefit from the collective accumulation of experience and knowledge.