Lack of job openings is linked to the world’s toughest problems, according to a new report launched at the World Economic Forum Annual Meeting 2023. 

The new WEF report, which presents case studies from seven key countries, also identifies ‘repeatable models’ for businesses and policy-makers and a roadmap of priorities for countries to improve financial sustainability.

Global unemployment was at 192 million in 2019 before surging to 235 million in 2020 as the Covid-19 pandemic kicked in.

Meanwhile, the global jobs gap stood at 473 million in 2022.

This number comprises unemployment plus those who want work but are not seeking a job, either due to being discouraged by previous failed attempts or having other obligations such as care responsibilities.

The report also offers insights into the actions and investments that can accelerate a country’s transition towards opening job avenues that deliver a stronger economy, and better livelihoods for a more inclusive set of people.

The report gives insight into “repeatable models” from seven “early mover” countries in Africa, Asia, the Americas, and Europe whose performance has been comparatively strong and whose examples and lessons are widely relevant. 

Their stories of transformation identify common, repeatable elements, including the most critical actions and investments for driving change and how they should be coordinated.