Youth and Employment
Young people’s employment opportunities can have considerable welfare and growth consequences for their future. Connecting youths with employment opportunities not only helps to provide financial support for individuals and their families but also gives young people the chance to develop the professional skills necessary to secure future employment and stability in adulthood.
However, young jobseekers today are facing a growing challenge as youth unemployment rates have risen to crisis levels. As of 2013, an estimated 12.6% of youths (nearly 73 million) were unemployed hindering their capacity for development. In some countries, this rate is nearly three times higher for youth than for adults, which has left millions of young people feeling disempowered and discouraged. Many are forced to be less selective in their search for employment and to accept low-quality, low-income jobs that provide little security and few growth opportunities.
Youth unemployment also limits the economy’s growth potential, thus aggravating the lack of employment opportunities for young people. This issue is most evident in developing regions of the world where 90% of the global youth population lives. Here, stable, quality employment is especially lacking and young people are forced to enter into informal employment where they receive below-average wages.
Addressing this issue is more challenging in regions where institutions are weak and stable economic policies are lacking. The International Labour Organization (ILO) has devised a number of policy guidelines to help reverse the trend of youth unemployment: investment in education and skills-training; the creation of appropriate labour-market policies targeting youth; and the empowerment and entrepreneurship of young people seeking self-employment.
Reversing youth unemployment trends requires an in-depth understanding of employment and labour-market issues at a country-specific level. An analysis of youth labour markets, especially the factors that result in young people achieving high-skilled jobs, is important for the development of appropriate policies and programmatic interventions.
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Explore the original documents by clicking on the links below:
- ILO, Global Employment Trends for Youth 2013. Available at: <http://www.ilo.org/wcmsp5/groups/public /---dgreports/--- dcomm/documents/publication/wcms _212423.pdf> Accessed: 11th of August 2015.
- World Bank. Youth Employment. Available at: <http://www.worldbank.org/en/topic/socialprotectionlabor/brief/youth-employment> Accessed: 11th of August 2015.
- World Bank. Global Agenda Councils -Youth Unemployment Visualization 2013. Available at: <http://www.weforum.org/community/global-agenda-councils/youth-unemployment-visualization-2013> Accessed: 13th of September 2015.