President Tharman to co-chair World Bank’ high-level advisory council on jobs

He will lead the council alongside former Chilean President Michelle Bachelet.

President Tharman Shanmugaratnam has been appointed Co-Chair of the World Bank Group’s newly formed High-Level Advisory Council on Jobs.

He will lead the Council alongside former Chilean President Michelle Bachelet.

The two leaders have agreed to guide the Council for a two-year term, which will run until July 2026. The Council is tasked with providing strategic advice and recommendations to the World Bank Group on policies and programs aimed at addressing the looming jobs crisis in developing countries.

Over the next decade, approximately 1.2 billion young people in these regions will reach working age. However, the current job market is expected to generate only 420 million new jobs, leaving a significant shortfall and posing a substantial challenge to global prosperity.

The Advisory Council will focus on creating employment opportunities for youth and women, particularly in regions where female labor force participation is markedly lower than that of men. Currently, the global labor force participation rate for women hovers just above 50%, compared to 80% for men, with even more significant disparities in certain areas.

The Council will bring together leaders and experts from government, business, civil society, and academia to develop actionable strategies for large-scale job creation.

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