Africa can expect jobs drought

Africa’s recently released competitiveness report for 2017 predicts only close to a fifth of continent’s burgeoning population will be employed by 2035.

It says that the working-age population in Africa is expected to grow by approximately 450 million people over the next 20 years and only 100 million can expect to find stable employment opportunities, if current trends continue.

But the report offers solutions beyond the alarming statistics.

It says that countries that enact policies conducive to job creation are likely to reap significant benefits from this rapid population growth.

On the other hand, those that fail to implement such policies are likely to suffer demographic vulnerabilities resulting from large numbers of unemployed and/or underemployed youth.

The report, which is produced annually, explains that new research is providing governments with insights into how they can address the coming rise in the working-age populations.

This includes finding ways to increase the demand for labour and improve supply-side factors at the same time.

Surprisingly, the report points out that almost all new jobs in Africa today are in agriculture and microenterprises so “improving the business environment in these sectors is a high priority”.

It says that fragile countries can create jobs as well as promote growth and stability through targeted support to vulnerable regions and/or populations.