By Segun Adeyanju 

The World Bank has raised alarm over a projected 300 million job shortfall globally, urging policymakers, industry leaders, and regulators to take immediate action to bridge the employment gap.

Speaking at the Global Labour Market Conference (GLMC), in Riyadh, Saudi Arabia, the World Bank’s Country Director for the Gulf Cooperation Council (GCC), Safaa El-Kogali, revealed that over 1.2 billion young people will enter the workforce in the next decade, but job creation is expected to fall significantly short.

“This is not just a number; it is a looming crisis with severe social and economic consequences,” El-Kogali warned.

Saudi Arabia’s Minister of Human Resources and Social Development, Ahmad Bin Salman Alrajhi, emphasized the urgency of tackling youth unemployment, which affects 67 million young people globally.

He highlighted skills mismatches, rapid technological changes, and demographic shifts as key challenges.

Citing successful models from Germany, Singapore, and Kenya, Alrajhi stressed the need for proactive policies and international collaboration to secure the future of global labor markets.