The World Bank has cautioned government on the need to create formal jobs in the economy.\u00a0<\/p>\n\n\n\n
Releasing their report on jobs strategy for inclusive development on Thursday the World Bank cited that Uganda will have a 13 million-strong workforce that will be demanding formal jobs.<\/p>\n\n\n\n
This demand will require quicker and better economic growth and development.\u00a0<\/p>\n\n\n\n
“Uganda now needs to create more jobs for the growing work force. The work force in Uganda is quite unique and it is currently growing at around 3.94% per year, “Dino Merotto ,the lead economist World Bank said.\u00a0<\/p>\n\n\n\n
Merotto\u00a0 said there is productivity jobs and I’m the rising economy, there is need to act fast to meet the demand of the growing population in the near future.\u00a0<\/p>\n\n\n\n
Uganda’s economy is growing at 5% but it is mostly centered in agriculture and services sector.\u00a0<\/p>\n\n\n\n
However, agriculture contribution to the GDP has reduced by 24% and government has turned the gun bowing to manufacturing industries.\u00a0<\/p>\n\n\n\n
“The young people are not so much needed on the farm, as per the rise of activities, they are going to be to move to city but they will want to move there if there is good opportunities for them,”he said.\u00a0<\/p>\n\n\n\n
There are over 18\u00a0 million in the work force of the country according to national labour force done in 2017 but less than 4 million are active participants in the formal economy.\u00a0<\/p>\n\n\n\n
By 2030, the World Bank predicts that this will grow to 21 million people.<\/p>\n","protected":false},"excerpt":{"rendered":"
The World Bank has cautioned government on the need to create formal jobs in the economy.\u00a0 Releasing their report on jobs strategy for inclusive development on Thursday the World Bank cited that Uganda will have a 13 million-strong workforce that will be demanding formal jobs. This demand will require quicker and better economic growth and […]<\/p>\n","protected":false},"author":2270,"featured_media":14242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_paywall_metabox":[],"jnews_override_counter":[],"footnotes":""},"categories":[101,98],"tags":[31],"class_list":["post-14241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news","tag-featured"],"yoast_head":"\n