According to the International Labor Organization (ILO), accounting for over 35 percent of the unemployed worldwide in 2017 were young people seeking work, but who were troubled by a persisting overall trend of insufficient good jobs.
The ILO said that the quest for some form of decent work or job by the young population of the world have been continued to be hampered by a consistent lack of quality job opportunities for them and trend of continued unemployment even though on the overall, there has been a significant fall in the number of unemployed youth worldwide since the height of the global economic crisis.
The ILO's Global Employment Trends for Youth 2017 report showed that the global youth unemployment rate is expected to rise slightly in 2017 to reach about 13.1 percent even while that rate had somewhat stabilized at 13.0 percent in 2016.
By the end of 2018, the number of unemployed youth globally is expected to rise by 200,000 from the estimated figure of 70.9 million unemployed youth in 2017, even while the later number marks a very significant improvement compared to the figures at the peak of the global financial crisis of 2009 when the youth unemployment number was at 76.7 million globally.
"Addressing these persistent labor market and social challenges faced by young women and men is crucial, not only for achieving sustainable and inclusive growth but also for the future of work and societal cohesion," said Deborah Greenfield, ILO Deputy Director-General for Policy.
There has been significant improvement in the situation of youth employment in the youth labor markets in Europe, Northern America and sub-Saharan Africa, and this has offset a significant enhancement in the rates of youth unemployment rates that have been observed between the years 2010 and 2016 in the regions of Northern Africa, the Arab states, and Latin America and the Caribbean, when considering the rates globally.
The ILO further observed that the observed gains in youth employment are being threatened to be reversed by economic instability in some regions of the world even as the overall economic growth in many regions is still not being able to generate employment growth.
The deep-seated and massive drawbacks for the young job seekers in the labor market is illustrated by the fact that there has barely been any change in the youth-to-adult unemployment ratio in the last decade.
The persistent vulnerabilities that young women face in the labor market were also highlighted I n the ILO report.
Compared to the rate of labor force participation for men globally in 2017, the rate of rate of young women's participation was noted to be 16.6 percentage points lower.
And compared to the rate of unemployment of young men, the rate of unemployment for young women was also noted to be significantly higher in the report. the report also noted that the gender gap was found to be even higher in terms of the rate of young people not in employment, education or training. Compared to 9.8 percent for males, the female rate is 34.4 percent globally.
(Source:news.xinhuaanet.com)
The ILO said that the quest for some form of decent work or job by the young population of the world have been continued to be hampered by a consistent lack of quality job opportunities for them and trend of continued unemployment even though on the overall, there has been a significant fall in the number of unemployed youth worldwide since the height of the global economic crisis.
The ILO's Global Employment Trends for Youth 2017 report showed that the global youth unemployment rate is expected to rise slightly in 2017 to reach about 13.1 percent even while that rate had somewhat stabilized at 13.0 percent in 2016.
By the end of 2018, the number of unemployed youth globally is expected to rise by 200,000 from the estimated figure of 70.9 million unemployed youth in 2017, even while the later number marks a very significant improvement compared to the figures at the peak of the global financial crisis of 2009 when the youth unemployment number was at 76.7 million globally.
"Addressing these persistent labor market and social challenges faced by young women and men is crucial, not only for achieving sustainable and inclusive growth but also for the future of work and societal cohesion," said Deborah Greenfield, ILO Deputy Director-General for Policy.
There has been significant improvement in the situation of youth employment in the youth labor markets in Europe, Northern America and sub-Saharan Africa, and this has offset a significant enhancement in the rates of youth unemployment rates that have been observed between the years 2010 and 2016 in the regions of Northern Africa, the Arab states, and Latin America and the Caribbean, when considering the rates globally.
The ILO further observed that the observed gains in youth employment are being threatened to be reversed by economic instability in some regions of the world even as the overall economic growth in many regions is still not being able to generate employment growth.
The deep-seated and massive drawbacks for the young job seekers in the labor market is illustrated by the fact that there has barely been any change in the youth-to-adult unemployment ratio in the last decade.
The persistent vulnerabilities that young women face in the labor market were also highlighted I n the ILO report.
Compared to the rate of labor force participation for men globally in 2017, the rate of rate of young women's participation was noted to be 16.6 percentage points lower.
And compared to the rate of unemployment of young men, the rate of unemployment for young women was also noted to be significantly higher in the report. the report also noted that the gender gap was found to be even higher in terms of the rate of young people not in employment, education or training. Compared to 9.8 percent for males, the female rate is 34.4 percent globally.
(Source:news.xinhuaanet.com)
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