Recent World Bank Group research shows that the private sector provides 9 out of 10 jobs in developing countries. In recognition of the private sector’s pivotal role in global youth employment, S4YE has identified private sector engagement as a cross-cutting theme for all its activities. To further advance the understanding and effectiveness of private sector engagement, S4YE is now developing a Private Sector Advisory Council (PSAC) that will consist of senior level representatives from a select group of companies to facilitate deeper engagement and partnership between private sector and S4YE/World Bank operations, knowledge products and advocacy on youth employment. Some of the objectives of S4YE’s Private Sector Advisory Council are to:
- Advise S4YE’s SC on its program, policies, and projects,
- Promote peer-to-peer learning between private sector groups on tackling youth employment,
- Help crowd in and scale innovative and transformational approaches on youth employment, with a focus on Future of Work, 21st-century skill and job creation for youth, and
- Contribute to flagship S4YE or World Bank initiatives, e.g., the World Development Report, Human Capital Project.