Business · Economy · 14 hrs ago
World Bank warns of projected 800 million-job shortfall over 15 years
World Bank President Ajay Banga warned in Bangkok that the world faces a projected shortfall of nearly 800 million jobs over the next 10 to 15 years.
About 1.2 billion young people are expected to enter the workforce, while only around 400 million jobs are projected to become available.
The gap is a forecast, not a certainty, and Banga said it does not have to become reality.
He wants development funding to combine public finance, private investment, philanthropy and technology to help countries create jobs.
Conflict, debt and high energy and fertiliser costs make that harder, while attracting commercial investment to low-income countries remains a challenge.
The World Bank says it mobilised $112 billion in private capital in fiscal 2026, up from about $35 billion in fiscal 2022, but the amount mobilised in low-income countries has stayed near $3 billion.
Banga said the bank will focus on small businesses and projects that build infrastructure, skills and investment, though the job shortfall remains a projection.
World Bank President Ajay Banga warned that about 800 million jobs could be missing over the next 10 to 15 years.
He said 1.2 billion young people are expected to enter the workforce during that period, while about 400 million jobs are projected to become available.
Banga called for public finance, private investment, philanthropy and technology to be combined to support job creation.
He said conflicts, high debt, limited government budgets and elevated energy and fertiliser costs make development harder.
Critics of the World Bank’s private-capital strategy say it can shift investment risks to the public while companies retain most of the benefits.
- Who
- World Bank President Ajay Banga warned of the projected jobs shortfall.
- What
- About 800 million jobs could be missing as 1.2 billion young people enter the workforce and only about 400 million jobs are projected.
- When
- Over the next 10 to 15 years. Banga spoke at the World Bank Group’s 2026 Annual Meeting.
- Where
- Bangkok, Thailand, at the World Bank Group’s annual meeting.
- Why
- The number of young people entering the workforce is projected to exceed the number of available jobs.
World Bank President Ajay Banga and the World Bank
Critics of the World Bank’s private-capital strategy
Private investment
World Bank President Ajay Banga and the World Bank
Banga says private investment should complement public finance, philanthropy and technology to help countries create jobs.
Critics of the World Bank’s private-capital strategy
Critics say public funds can bear part of the risks of private investments while companies retain most of the benefits.
Development priorities
World Bank President Ajay Banga and the World Bank
Banga says the World Bank’s approach can help countries create jobs at scale and support small businesses.
Critics of the World Bank’s private-capital strategy
Critics argue the approach gives greater weight to profitability and directs more resources to middle-income than low-income countries.
Ajay Banga assumed office as World Bank president.
The World Bank mobilised about $35 billion in private capital, according to Banga.
Private capital mobilisation reached $112 billion, according to the World Bank.
Banga addressed the World Bank Group’s annual meeting plenary in Bangkok and warned of the projected jobs shortfall.
- Projected jobs shortfall
- Nearly 800 million over the next 10 to 15 years
- Young people entering workforce
- About 1.2 billion
- Jobs projected to become available
- About 400 million
- Annual meeting location
- Bangkok
- Private capital mobilised
- $112 billion in fiscal 2026
- Critical minerals financing target
- $19 billion in fiscal 2026–2030
4 sources
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What people are saying
The jobs gap is a projection. It does not have to be our future.
In critical minerals, we plan to quintuple our business in five years,
The future of development will depend on our ability to combine public finance, private investment, philanthropy and technology according to the needs of each country.
Our goal is for scarce resources to go further, helping countries create jobs at scale.