Ajay Banga, President of the World Bank, gave a highly-attended lecture at the opening ceremony of the academic year at Bocconi University in Milan. According to their data, 1.2 billion young people from emerging economies will be ready to enter the labour force in the next 15 years. However, in the same 15 years, only 420 million jobs will be created by the well-known employers. A greater role for private enterprise will be needed to increase the number of jobs on offer significantly, as higher levels of employment can reduce migration flows by orders of magnitude.
