Global youth boom requires jobs to prevent instability: WB president

World Bank Group President Ajay Banga has warned that the world is approaching a "demographic bomb" that could fuel instability and mass migration unless urgent action is taken to create jobs for a fast-growing global workforce, particularly in developing nations.

"We are living through one of the great demographic shifts in human history," Banga said in a speech outlining the Bank's strategy to place job creation at the heart of development and security policy. "By 2050, more than 85% of the world's population will live in countries we call 'developing' today."

The World Bank estimates that in the next 10 to 15 years, 1.2 billion young people will enter the global workforce but will find only about 400 million jobs available. "That leaves a very large gap," Banga said. "Four young people will step into the global workforce every second over the next ten years."

Africa at the epicenter

Banga identified Africa as the focal point of the demographic surge, describing its pace of population growth as "most staggering." By 2050, one in four people on Earth will live on the continent.

"Nigeria will swell by about 130 million, firmly establishing itself as one of the most populous nations in the world," he said, noting that countries such as Mozambique and Zambia were also set for dramatic increases.

The Bank's analysis frames the demographic transition as both a risk and an opportunity. With the right investments, Banga said, developing economies could turn their youthful populations into "a powerful engine of global growth." But failure to do so, he warned, would have dire consequences.

"Without purposeful effort, their optimism risks turning into despair-fueling instability, unrest, and mass migration-with implications for every region and every economy," he said.

Jobs as the cornerstone of stability

The World Bank is reframing its mission around jobs as the foundation of economic and social stability. "This is why jobs must be at the center of any development, economic, or national security strategy," Banga said.

"A job is more than a paycheck. It is what allows both women and men to pursue their aspirations. It's purpose. It's dignity," he said. "The anchor that holds families steady and the glue that keeps societies together. It is the straightest line to stability-and the hardest progress to reverse once achieved."

Nearly 90% of jobs, Banga noted, ultimately come from the private sector. He said the World Bank intends to work more closely with private investors to spur job-rich growth and ensure economic opportunity reaches fragile and conflict-affected regions.

Preparing for conflict and reconstruction

Banga also emphasized the World Bank's dual role in conflict prevention and post-war recovery. The institution has convened expert groups to plan for reconstruction in Gaza and Ukraine, efforts he said were part of a broader push to "create the conditions for opportunity and stability" once fighting ceases.

"These young people-with their energy and ideas-will define the next century," Banga said. "Alongside rebuilding what has been lost, we must also focus on creating the conditions for opportunity and stability."

Framing the global jobs challenge as both a moral and security imperative, Banga warned that addressing the demographic wave is no longer optional. "With the right investments-focused not on need, but opportunity-we can unlock a powerful engine of global growth," he said.

"But if we fail," he added, "the cost will not just be economic-it will be measured in instability, unrest, and lives upended."