Exclusive | Out of 1.2 bn jobs needed by 2030, only one-third will be offered, says World Bank’s Anna Bjerde

In a recent interview with CNBC-TV18, Anna Bjerde, the World Bank’s Managing Director of Operations, emphasised a critical global issue: job creation. Bjerde highlighted that the world will need approximately 1.2 billion jobs by 2030, but only around 420 million are expected to be offered. “Job creation has become a huge issue,” she said. “We estimate that about 1.2 billion jobs are needed in the world by 2030 and only about 420 million right now are expected to be offered.”

Bjerde stressed the importance of creating opportunities for young people, especially as many countries around the world are home to large, youthful populations.

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The World Bank, Bjerde noted, focuses on fostering medium- and long-term economic development, with a strong emphasis on poverty reduction and job creation. She also highlighted that an integrated global economy, where countries are importing and exporting, can drive growth and create new markets. “A vibrant and dynamic economic ecosystem where countries are importing and exporting is a good thing because it creates new markets. It creates opportunities, of course, to earn revenues,” Bjerde said.

In the same interview, Bjerde also discussed some of the current challenges facing countries around the world. She pointed out that fundraising challenges, rising debt, and inflation volatility remain significant concerns.  She also highlighted that rising debt levels are a growing concern, especially for many African nations with high debt-to-GDP ratios. These countries are struggling to borrow, which is trapping them in a cycle of financial hardship.