Global Youth Unemployment Worsening, Likely to Wipe Out Recovery’s Gains: ILO
GENEVA — Youth unemployment is likely to rise globally to 12.8 percent by 2018, wiping out gains made in the recent economic recovery, the U.N.’s labor office said Wednesday.
As of last year, some 12.4 percent of people aged 15 to 24 worldwide were unemployed, up from 12.3 percent in 2011, according to a report published by the International Labor Organization, which is based in Geneva.
In six of 10 developing countries surveyed, more than 60 percent of the young people were either unemployed or trapped in low-paying jobs, the report found.
“The waste of economic potential in developing countries is staggering,” said Sara Elder, a co-author of the report, who concluded that for many of them “a job does not necessarily equal a livelihood.”