Job creation remains a huge challenge in Africa, says the 2013 edition of the economic report on Africa launched on Monday evening in Abidjan by the African Union (AU) and the Economic Commission for Africa (ECA).
The report, which focuses on the theme, “Draw the biggest profit for African-based products: Industrialization in service of growth, employment and economic transformation,” said job creation remained a huge challenge because of the recent growth in Africa, supported by basic products, had weak capacity to create job.
The continent continues to face high unemployment rates, particularly among young men and women, and there are few opportunities to absorb the new entries on the job market.
More than 70% of Africans earn their living by executing precarious job because of the fact that economies continue depending strongly on production and the export of primary products. Investments remain concentrated on the extractive industries with high capital intensity, with few links with the rest of economy, says the study.
The largest part of young men in Africa is still at school but big job opportunities are still few particularly in poor countries. In countries with weak revenue, only 17% of working young men have a full-time paid job.