Africa News blog

African business, politics and lifestyle

from MacroScope:

Social media for the Arab jobless

In the realm of  long-term economic things to worry about, there is not much that can rival youth unemployment in the greater Middle East and North Africa. Some years ago, for example, the World Bank  estimated that the region's population rise was such that jobs needed to grow by some 3.5 percent  per year if unemployment along the lines of one-in-four was to be avoided over the next couple of decades. There has been nothing of great note to change this forecast.

The International Monetary Fund has just weighed into the issue with a post on the subject and some startling figures on the depth of the problem. As author Masood Ahmed writes:

Simply put, the region is facing unparalleled demographic pressures. Population growth over the past two generations has been among the fastest in the world: the region’s work force is projected to reach 185 million in 2020, 80 percent higher than in 2000. And the region is one of the most youthful in the world—with about 60 percent of the population less than 25 years old.

The IMF says the best way it can help is to help governments in the region devise policies for macroeconomic stability and strong,  sustainable growth that is essential to creating jobs.

Does the “billionth African” mean boon or burden?

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One day this year, in all probability, the “billionth African” will have been born, a milestone that will only benefit the poorest continent if it can get its act together and unify its piecemeal markets.
   Nobody knows, of course, when or where in its 53 countries the child arrived to push Africa’s population into ten figures.
   The U.N. merely estimates that in mid-2008 there were 987 million people, and in mid-2009, 1,010 million.
   Given the difficulties of obtaining accurate data from the likes of Nigeria, where provincial population figures are often hostage to the ambitions of local politicians, or any data at all from the likes of Somalia, experts are reluctant to hazard any greater degree of accuracy.
   There is less doubt, however, about the underlying trend — that Africa’s population is set to grow faster than in any other part of the world in the coming decades, and to double by 2050.
   To some, the statistics from the U.N.’s population division will invite comparisons to the Asian giants, and inspire hopes of a flood of investment from Africans and outsiders to meet the needs of a continent likely to be home to one in five people by the middle of this century.
   By contrast, China’s projected population of 1.4 billion in 40 years will be shrinking, while India will only be adding an annual 3 million to its 1.6 billion people.
   To others, the numbers are stark reminders of the mammoth task Africa’s leaders face in providing the food, jobs, schools, housing and healthcare that are still so sorely lacking.
   UNFPA, the U.N.’s population arm, summarises by saying that sub-Saharan Africa faces “serious political, economic and social challenges” and points to the last two decades as evidence that more people does not mean more wealth.
   “Twenty years of almost three percent annual population growth has outpaced economic gains, leaving Africans, on average, 22 percent poorer than they were in the mid-1970s,” it says.
    Are Africa’s leaders ready and willing to create the truly unified common market needed to boost investment, trade and economic growth, or are short-term national interests likely to prevail, consigning Africa to a century of overpopulated poverty?

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