Global youth unemployment rate remains at the economic crisis level and will not decrease earlier than in 2016, states the Global Employment Trends for Youth 2012 report just published by the International Labour Organisation (ILO). According to the report, 12.7% of global workforce aged 15 to 24 years will be unemployed this year, which corresponds to the peak of the crisis in 2009 (last year it was 12.6%). That means 75 million unemployed young people in 2012, which is 4 million more than in 2007.
In developed economies, the youth unemployment rate reaches 18 percent. The worst situation is in North Africa where the youth unemployment rate rose by 5% after the so-called Arab Spring in 2011. This year the unemployment rate reached 27.9% there. The rates in other regions are: 26.6% in the Middle East, 15, 6% in Latin America and 13.5% in Southeast Asia.
The economic crisis had a stronger impact on unemployment among young women than young men in most regions with the exception of the developed economies where men were more affected. Furthermore, it appears that growing numbers of young people work part-time positions or in low-productivity positions. Young people who are neither employed nor studying, have become a major problem especially in developed economies.
The study is available for download on International Labour Organisation website here.
-kk-