A Call To Reimagine Decent Work
As I reflect on the state of the global labour market, I can’t help but feel a mix of hope and frustration. Hope because we have made very significant progress in doing something about youth unemployment. Frustration because we have barely scratched the surface of what needs to be done to effectively, sustainably address the problem.
Recent data from the World Bank, International Labour Organization, African Development Bank, Manpower Group and Gallop paint a stark picture of the challenges we face, especially going into a future powered by artificial intelligence. In its Global Talent Shortage report, Manpower group states that nearly 4 in 5 employers globally report difficulty finding the skilled talent they need in 2023, more than double the difficulty in 2015. Gallup reports that as of 2023, 67% of the world’s workforce are not engaged, costing the global economy an estimated US$8.9 trillion or 9% of global GDP. The African Development Bank, in its Jobs for the Youth in Africa report, predicted that 263 million young people will lack an economic stake in the system by 2025.
I see a confluence of factors relentlessly disenfranchising young people who should be actively and productively engaged - An educational system ill-equipped for the demands of a rapidly evolving labour market churning out graduates who find themselves unprepared for the realities of the workforce, poor career pathfinding leading to low workforce engagement, a lack of collaboration between trainers and industry leaving the needs of the latter lost in translation, and interventions designed to suit funding requirements instead of addressing the root causes perpetuating the problem.
The two main victims of this confluence are young people on the one hand - watching their dreams slip away, unable to build wealth or participate meaningfully in the economy; and entrepreneurs on the other - struggling to innovate, grow and scale their businesses because of their inability to find skilled, driven talent.
The good news is, the challenge is also the opportunity. The scale of the problem presents an opportunity for us to reimagine what “decent work” means for the next generation, especially for the African continent where 450 million of the world’s working age population will come from by 2035. To help us course correct, I propose the following:
Youth unemployment is a thorny problem that mutates into even thornier issues governments across the world continue to grapple with. The current train-and-place-in-jobs model has been ineffective for a long time. The future is not just about surviving; it’s about thriving; the data shows that our youth are not thriving. My charge to all stakeholders—governments, businesses, educators, international agencies - We have a responsibility to hand over a stable, more prosperous, equitable, and innovative tomorrow to those who come after and the time to act starts now!