Business
No jobs, no prosperity — World Bank warns
The World Bank says the solution is not to relocate jobs from richer nations to poorer ones. Instead, countries should create conditions that allow businesses to invest, expand and employ people where they already live.
Without enough jobs, economic growth alone may do little to improve living standards or reduce poverty. (File photo)
By: Jackie Nalubwama, Journalist @New Vision
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For millions of young people across Uganda, finding a decent job is becoming one of life's greatest challenges. Every year, thousands graduate from universities, vocational institutes and secondary schools only to discover that economic growth does not automatically translate into employment.
It is a dilemma shared by many developing countries, and one the World Bank Group now says must become the centre of global development efforts if poverty is to be defeated.
James Omoding’s story resonates with the World Bank’s findings. He graduated with a first-class degree in special needs education, but failed to get a job.
“I enrolled in a specialized course in Qigong sensory therapy for autism. I am now supporting children with massage on private arrangements,” he said.
Qigong sensory therapy is highly specialised as its effects can help autistic children improve their sensory, social-emotional and behavioural development at home. It thus means that it is beneficial to the children and parents because it relieves them of stress.
In new research, the World Bank argues that creating more and better jobs is not simply an economic objective. It is the most effective way to reduce poverty, build self-reliant economies and create lasting prosperity. Jobs, the bank says, also strengthen communities, reduce the pressures that drive migration and instability, and give people something equally important: dignity, purpose and hope.
Omoding’s cry is valid. “Many educated individuals are unable to find employment. Leaders should focus on labour market reforms, address corruption and nepotism, and ensure equal opportunities for all qualified individuals,” he says.
The message carries particular significance for Uganda, where one of the world's youngest populations is entering the labour market at a rapid pace. Across developing countries, an estimated 1.2 billion young people will reach working age over the next decade, placing enormous pressure on governments to create opportunities that match their ambitions. Without enough jobs, economic growth alone may do little to improve living standards or reduce poverty.
The World Bank says the solution is not to relocate jobs from richer nations to poorer ones. Instead, countries should create conditions that allow businesses to invest, expand and employ people where they already live. That shift, it argues, would enable growth to generate local employment while strengthening domestic economies.
Beyond providing an income, employment has far-reaching social benefits. A stable job allows families to invest in education, healthcare and housing while giving communities a stronger economic foundation.
In new research, the World Bank argues that creating more and better jobs is not simply an economic objective. It is the most effective way to reduce poverty, build self-reliant economies and create lasting prosperity. Jobs, the bank says, also strengthen communities, reduce the pressures that drive migration and instability, and give people something equally important: dignity, purpose and hope.
Omoding’s cry is valid. “Many educated individuals are unable to find employment. Leaders should focus on labour market reforms, address corruption and nepotism, and ensure equal opportunities for all qualified individuals,” he says.
The message carries particular significance for Uganda, where one of the world's youngest populations is entering the labour market at a rapid pace. Across developing countries, an estimated 1.2 billion young people will reach working age over the next decade, placing enormous pressure on governments to create opportunities that match their ambitions. Without enough jobs, economic growth alone may do little to improve living standards or reduce poverty.
The World Bank says the solution is not to relocate jobs from richer nations to poorer ones. Instead, countries should create conditions that allow businesses to invest, expand and employ people where they already live. That shift, it argues, would enable growth to generate local employment while strengthening domestic economies.
Beyond providing an income, employment has far-reaching social benefits. A stable job allows families to invest in education, healthcare and housing while giving communities a stronger economic foundation.
The bank highlights women as a particularly powerful driver of development, noting that they typically reinvest up to 90% of their earnings in their families and communities. Expanding economic opportunities for women, therefore, has benefits that extend well beyond individual households.
Hasina Zawedde of Women Traders Cooperative Society shares the resilience of women in the marketplace.
“We are over 100 vendors and hawkers in this group. Some are educated, but they failed to find jobs and are now hawking fruits and other groceries. However, street life is distressing,” she says.
Since 2019, the World Bank says its jobs-related programmes have benefited about 77 million people. It has also made employment generation an explicit objective across its development work rather than treating it as a secondary outcome of economic growth. Through its lending, policy advice and technical support, the institution says it is working with governments and the private sector to help countries create sustainable jobs, particularly for women and young people.
The strategy reflects a broader recognition that solving unemployment requires more than isolated projects. It demands coordinated investment in people, businesses and public institutions so that economic growth translates into opportunities that ordinary citizens can see and experience.
To achieve that, the World Bank has built its approach around three priorities: investing in the infrastructure that supports employment, helping governments create policies that encourage businesses to grow, and mobilising private investment to generate jobs at scale. Together, the institution believes these pillars can help developing countries convert economic potential into lasting prosperity.
Hasina Zawedde of Women Traders Cooperative Society shares the resilience of women in the marketplace.
“We are over 100 vendors and hawkers in this group. Some are educated, but they failed to find jobs and are now hawking fruits and other groceries. However, street life is distressing,” she says.
Since 2019, the World Bank says its jobs-related programmes have benefited about 77 million people. It has also made employment generation an explicit objective across its development work rather than treating it as a secondary outcome of economic growth. Through its lending, policy advice and technical support, the institution says it is working with governments and the private sector to help countries create sustainable jobs, particularly for women and young people.
The strategy reflects a broader recognition that solving unemployment requires more than isolated projects. It demands coordinated investment in people, businesses and public institutions so that economic growth translates into opportunities that ordinary citizens can see and experience.
To achieve that, the World Bank has built its approach around three priorities: investing in the infrastructure that supports employment, helping governments create policies that encourage businesses to grow, and mobilising private investment to generate jobs at scale. Together, the institution believes these pillars can help developing countries convert economic potential into lasting prosperity.