World Bank warns of 800 million job shortfall next decade
Big news from the World Bank: Over the next decade, there could be 800 million more people looking for jobs than there are positions available, mostly in developing countries.
President Ajay Banga described it as "both a development and an economic challenge," with 1.2 billion young people expected to enter the workforce but only 400 million new jobs likely to appear.
Global job gap risks US prices
This huge job gap could make economies less stable and push up higher import costs and higher prices for everyday products in the US.
More competition from international freelancers and possible supply chain hiccups could affect American workers and prices.
Plus, high unemployment abroad might mean more migration toward countries like the US but it also opens doors for investment in things like infrastructure, with $112 billion already mobilized by the World Bank Group.