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IFC JOBS STUDYASSESSING PRIVATE SECTOR CONTRIBUTIONS TO JOB CREATION AND POVERTY REDUCTIONSUMMARY JANUARY 2013 Why jobs matterHigh levels of unemployment, especially among youth, and large numbers of low-quality jobs are problems in developing countries around the world, and therefore creating more and better jobs is an urgent priority. Jobs are much more than monetary income; they are the cornerstone of development. Jobs boost living stan-dards, raise productivity, and foster social cohesion, and they are the main path out of poverty. Currently 200 million people are unemployed globally, and the un-employment rate for youth is more than times higher than that of adults. By 2020, 600 million jobs must be created in developing countries mainly in Africa and Asia just to accommodate young people entering the workforce.
Why jobs matter High levels of unemployment, especially among youth, and large numbers of low-quality jobs are problems in developing countries
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