The International Labour Organization estimates that the global youth unemployment rate is expected to reach 13.1 per cent in 2016 and remain at that level through to 2017 (up from 12.9 per cent in 2015).
The ILO’s "World Employment and Social Outlook 2016, Trends for Youth" report shows that as a result, the global number of unemployed youth is set to rise by half a million this year to reach 71 million – the first such increase in 3 years.
Of greater concern is the share and number of young people, often in emerging and developing countries, who live in extreme or moderate poverty despite having a job. In fact, 156 million or 37.7 per cent of working youth are in extreme or moderate poverty (compared to 26 per cent of working adults).
The report also highlights that across most labour market indicators, wide disparities exist between young women and men, underpinning and giving rise to wider gaps during the transition to adulthood. In 2016, for instance, the labour force participation rate for young men stands at 53.9 per cent compared to 37.3 per cent for young women – representing a gap of 16.6 percentage points.
The ILO report and further information is available on: http://www.ilo.org/global/research/global-reports/youth/2016/lang--en/index.htm
Source: International Labour Organization
Posted by: Katrin Schauer