Poverty, unemployment and underemployment are pressing challenges in the Caribbean, affecting economic mobility, stability, and opportunities for young people. Although the region has made strides over the years, fragile economic growth and low-quality jobs are holding millions back. In 2023, despite decades of progress, 1 in 4 people still lived below the poverty line in the LAC region. Also prevalent is a high youth unemployment rate – in 2023, the youth unemployment rate in the Caribbean was at 24%.
Labor market inclusion of women remains a consistent problem across the Caribbean with a 29% youth female unemployment rate in 2023. This has far-reaching implications, including barriers of entry in high-yield and productivity sectors, ultimately resulting in women having higher poverty and poorer human development index indicators.
Addressing youth unemployment and poverty in the Caribbean requires a multi-faceted approach that includes investing in education and training, promoting economic diversification, supporting entrepreneurship, and implementing inclusive policies. This requires strong participation from youth, who are the strongest drivers of economic prosperity in the region.
Keeping this in view, the World Bank invited Caribbean youth to participate in an essay competition on the topic of jobs and poverty, asking them to share their views, aspirations, and solutions.
This event will bring together the top three winners, World Bank experts and the private sector to discuss these issues, providing a platform for youth perspectives to be heard, and discuss solutions.
Have questions? Email wbcaribbean@worldbank.org
