The next piece of Africa's growth jigsaw

From Emergent Africa Sat Dec 15 2012, 10:58:00

In Vox David Fine and Susan Lund write that jobs are:

... the missing piece needed to complete Africa's growth jigsaw and ensure future prosperity and stability.

Over the past decade, growth has allowed Africa to create about 37 million stable, wage-paying jobs - a 50% increase. Still, nearly two thirds of Africa's workforce today is struggling to get by in subsistence agriculture or informal self-employment. And the current rate at which the economy is generating wage-paying jobs is simply not fast enough to keep pace with the expansion of Africa's labour force. So the continent urgently needs to speed up its creation of those stable jobs that underpin incomes, domestic demand, and social stability. The experience of other countries, and a closer look at the growth potential of different sectors within Africa, suggests that the continent can achieve this.

Lessons from other emerging economies

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