Has Africa’s economic rise created enough Jobs?

 

(Moneyweb) Jobs in Africa are not coping up with the population growth

True, Africa is the lion economy and African economies are among the fasted growing in the world. But has life changed for its people? Have enough and much wanted Jobs in Africa been created?

 

It is ironic that Africa’s growth has not been enough to reduce poverty. Considering 63% of the world’s poor are in Africa, the picture looks grim. After decades of violence and stagnancy, the continent has seen the last two decades of sustained economic growth, thanks to better policies in the region and rising commodity prices. But sadly, it has been largely jobless growth with not enough jobs in Africa being created to keep up with the rising population.

 

As many more young Africans are set to enter the Job market, this is a worrying situation. Efforts are on to lower costs in starting and running a business and to impart necessary services. Disease and terrorism are also setbacks for the continents economy.

 

Growth needs to be seen in poverty stricken areas. The IMF suggests that more time, effort and money should be ploughed into helping people get established in non-wage jobs in agriculture and household (or informal) enterprises.

 

Fuelled mainly by resources, several African countries have been on the rise. This growth is good and has helped to lift people out of poverty. While things look positive, Africa still has a long way to go.

Leave a Reply