Leverage Technology Investment GFC 2024

The jobs challenge for middle-income countries In 2023, the global jobs gap reached nearly 435 million. While unemployment rates have fallen to their lowest levels since the COVID-19 pandemic, low- and middle-income countries continue to experience notably low labour force participation. This is particularly the case for women, whose labour force participation rate is generally lower in middle-income countries than in the poorest or richest countries. At the same time, the working-age population is increasing in many of these countries. Without concerted job creation efforts, the burgeoning population may face a shortage of economic opportunities, posing challenges to stability and prosperity. Additionally, many middle-income countries face slower economic growth than countries at other levels, despite contributing 40% to global economic output, leaving many countries with job stagnation. This is often referred to as the middle-income trap.   Addressing these trends requires a strong focus on creating high-quality economic opportunities, supported by partnerships from high-income countries. Expanded economic opportunity worldwide strengthens global security in the face of geopolitical challenges, fosters emerging markets, and supports a transition towards sustainable, green growth and raising living standards. Collaborative approaches across sectors and borders are essential to bridge these gaps. Leveraging Technology Investment for Good Job Creation 3