Africa facing shortfall of 50 million jobs by 2040, report says

Unemployment crisis will ravage the continent if it doesn't opt for market-based development, according to report by Tony Blair's Institute

Parts of Africa could face a massive unemployment crisis by 2040, with "catastrophic" consequences for the global economy, new research has found.

The report predicted a shortfall of 50 million jobs, which should serve as a "wake up call" for governments across much of the continent, as well as international donors and agencies. According to the analysis by the Tony Blair Institute for Global Change, based on world bank data, the labour force in sub-saharan Africa will be 823 million by 2040, up from 395 million in 2015. However, total number of jobs is only expected to hit 773 million, it said, leaving 50 million people in Africa unemployed.