The World Bank estimates that more than 1.2 billion young people in developing countries will reach working age over the next 10 to 15 years.

During the same period, only about 420 million jobs are projected to become available, creating a substantial shortfall between labour supply and demand.

In Sub‑Saharan Africa, up to 12 million youths enter the labour market each year, yet roughly three million wage‑paying jobs are created annually, highlighting a severe regional imbalance.

South Asia faces a comparable pressure, with 16 million new job seekers each year and an estimated six million failing to secure employment.

The Bank warns that the widening gap threatens poverty‑reduction efforts, especially where economic growth is insufficient to absorb the expanding workforces.

Global poverty reduction has slowed, compounded by sluggish growth, high debt, conflicts and climate‑related shocks that erode household incomes.

Addressing the crisis will require more than financing private firms; the World Bank stresses investments in electricity, roads, healthcare and education as essential foundations for productive economies.

In Sub‑Saharan Africa, nearly 600 million people still lack electricity, limiting business expansion and job creation, prompting the World Bank Group and African Development Bank to launch Mission 300 to connect 300 million people to power by 2030.

Since the initiative’s launch, more than 64 million individuals have gained electricity access, according to the Bank.

The private sector already provides nine out of every ten jobs in developing economies, underscoring its central role in closing the employment gap.

The World Bank highlights the need for predictable regulations, reliable contract enforcement and a business environment that enables firms to start, hire and grow as critical to sustained job creation.