Labor market faces severe job shortage, World Bank warns

In the next 10–15 years, 1.2 billion young people will enter the global labor market, but the economy will only be able to create 400 million jobs, World Bank President Ajay Banga said. He warned that 800 million people risk being left without work due to global crises, including geopolitical conflicts, rising debts and budget cuts, and high energy and fertilizer prices.