The Global Labor Market Conference (GLMC) has announced a new three-year partnership agreement with the World Bank, aimed at shaping labor systems and formulating policies that align with the future needs of the job market. Announced in Riyadh on January 30, 2025, via the Saudi Press Agency, this collaboration builds on a previous strategic knowledge partnership, strengthening joint efforts in training policymakers worldwide and conducting research to provide innovative insights for governments and institutions adapting to rapid changes in labor market demands, employment trends, and workforce policies.
Context and Background
Through this partnership, both parties aim to cultivate a new generation of policymakers, reinforcing the conference’s role as an independent think tank dedicated to developing effective labor market strategies. Policymakers will be selected from countries under the World Bank’s mandate to build a comprehensive and sustainable global labor market environment. With the global labor market undergoing fundamental shifts driven by unprecedented technological advancements, developing nations are playing an increasingly important role in enhancing global trade, while automation and digital innovation are reshaping industries and economies beyond expectations.
Key Details
As part of the partnership, the GLMC Labor Market Academy was launched in collaboration with the World Bank and Takamol Holding. This academy offers a three-year development program covering all aspects of the labor market, aiming to train global labor market experts responsible for future policy formulation and to create an innovative platform for cross-country learning, particularly for low- and middle-income nations. The academy provides policymakers with a unique opportunity for personal growth, access to rich informational resources, and an extensive international network facilitated by the conference. It was inaugurated during the second edition of the GLMC, where policymakers from over 26 countries gathered in Riyadh to witness its launch. A distinguished team of World Bank experts in labor market policy, social protection, skills development, and workforce growth oversees the academy’s operations.
Implications and Impact
The partnership also includes the launch of a Policy Lab, a dedicated platform for in-depth discussions on specific policies, tools, and programs that improve labor market outcomes and workforce skills. During the second edition of the GLMC in Riyadh, two policy labs will be introduced, playing a crucial role in addressing youth employment challenges, with a focus on Active Labor Market Programs (ALMPs) to enhance employment opportunities and Sector Skills Councils (SSCs) to bridge the gap between employees’ skills and job responsibilities. World Bank Country Director for the Gulf Cooperation Council (GCC) countries Safaa El Tayeb El-Kogali emphasized the partnership’s goal of promoting knowledge exchange and creating opportunities for global communities to share expertise and skills. She reaffirmed the World Bank’s commitment to supporting the global workforce by ensuring resilience and inclusivity in labor markets.
Vision 2030 Alignment
This strengthened GLMC-World Bank partnership underscores Saudi Arabia’s leadership in fostering global labor market innovation and policy development, directly supporting Vision 2030’s human capacity development goals. By creating a platform for international collaboration and knowledge exchange, Saudi Arabia is positioning itself as a hub for advancing sustainable, inclusive labor systems that contribute to global prosperity. The partnership seeks to ensure that all nations, particularly emerging economies, can benefit from an inclusive and diverse global labor market through joint research efforts and advanced policy development, reflecting the Kingdom’s commitment to shaping a future-ready workforce and driving shared economic growth.
20 Questions
Q1. What is the GLMC?
A1. The Global Labor Market Conference (GLMC) is an independent think tank and conference based in Saudi Arabia focused on developing effective labor market strategies and policies for the future.
Q2. What is the World Bank’s role in this partnership?
A2. The World Bank provides expertise, research capabilities, and policy support to help train global policymakers and develop innovative labor market solutions through this collaboration.
Q3. How long is the new partnership agreement?
A3. The new partnership agreement between GLMC and the World Bank is a three-year commitment to shape labor systems and address market challenges.
Q4. What is the GLMC Labor Market Academy?
A4. The GLMC Labor Market Academy is a three-year development program launched in collaboration with the World Bank and Takamol Holding to train global labor market experts.
Q5. Who oversees the academy’s operations?
A5. A distinguished team of World Bank experts in labor market policy, social protection, skills development, and workforce growth oversees the academy’s operations.
Q6. How many countries participated in the GLMC second edition in Riyadh?
A6. Policymakers from over 26 countries gathered in Riyadh to witness the launch of the academy at the second edition of the GLMC.
Q7. What is a Policy Lab?
A7. A Policy Lab is a dedicated platform for in-depth discussions on specific policies, tools, and programs that improve labor market outcomes and workforce skills.
Q8. How many policy labs were introduced at the second GLMC edition?
A8. Two policy labs were introduced during the second edition of the GLMC in Riyadh, focusing on youth employment challenges.
Q9. What are Active Labor Market Programs (ALMPs)?
A9. ALMPs are programs designed to enhance employment opportunities by actively supporting job seekers and improving their skills to meet market demands, as emphasized in the policy labs.
Q10. What are Sector Skills Councils (SSCs)?
A10. SSCs are councils that help bridge the gap between employees’ skills and job responsibilities, ensuring workforce readiness and alignment with industry needs.
Q11. Who spoke on behalf of the World Bank at the announcement?
A11. World Bank Country Director for the GCC countries, Safaa El Tayeb El-Kogali, emphasized the partnership’s goal of promoting knowledge exchange and creating opportunities for global communities.
Q12. How does this partnership support Vision 2030?
A12. It supports Vision 2030 by enhancing human capacity development, fostering global collaboration, and positioning Saudi Arabia as a hub for labor market innovation and policy leadership.
Q13. What is Takamol Holding’s role in the academy?
A13. Takamol Holding collaborated with GLMC and the World Bank to launch the academy, contributing resources and expertise to support the training program.
Q14. What is the main goal of the partnership?
A14. The main goal is to ensure all nations, particularly emerging economies, benefit from an inclusive global labor market through joint research and advanced policy development.
Q15. Who are the target participants for the academy?
A15. The academy targets policymakers from countries under the World Bank’s mandate to build a comprehensive and sustainable global labor market environment.
Q16. What skills does the academy aim to develop?
A16. The academy aims to develop skills in labor market policy formulation, social protection, skills development, and workforce adaptation to technological changes.
Q17. How does the partnership address youth employment?
A17. It addresses youth employment through policy labs focusing on ALMPs and SSCs to create better job opportunities and skill alignment for young people.
Q18. What is the significance of Riyadh hosting the GLMC?
A18. Hosting the GLMC in Riyadh highlights Saudi Arabia’s leadership in global labor market discussions and its commitment to fostering international cooperation under Vision 2030.
Q19. How does the partnership benefit developing nations?
A19. It provides developing nations with training, research, and policy support to help them adapt to global labor market changes and enhance their workforce systems.
Q20. What future impact does this partnership aim to achieve?
A20. The partnership aims to foster a cohesive, efficient global labor market environment that contributes to shared prosperity and prepares workforces for future economic challenges.
Reader Feedback
We value your thoughts. Please share your feedback on this article.
Your feedback helps us improve our coverage.