Challenges of Labor Force Participation in Aging Societies and Shifting Economies

The World Bank envisions a world where social protection systems are a cornerstone of sustainable development, unlocking opportunities for the poorest and most vulnerable to build a world free of poverty on a livable planet. In emerging markets, 1.2 billion young people will be of working age in a decade, when only 420 million jobs will be created. To tackle this looming crisis, social protection programs will be key. Social protection is more than cash transfers. It is a set of policies and programs that help bridge the skills gap and promote efficient labor markets that support entrepreneurship, access to finance, and better connect workers to jobs and businesses to markets. 

The World Bank's goal is to scale up social protection programs, alongside partners, to reach 500 million poor and vulnerable people by 2030, with a special focus on women and children. Through adaptive, digitalized social protection systems, they aim to ensure that every household has the tools and resources to prepare for, cope with, and recover from shocks avoiding the poverty trap. This Capstone project will generate research that will inform WB policy advice and assist with its Country Aging Diagnostic reviews.