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Financial News: Youth Unemployment Likely To Rise In 2018: ILO

Youth Unemployment Likely To Rise In 2018: ILO

11/21/2017 - 02:06:00 (RTTNews)

(RTTNews) - Overall economic growth continues to be disconnected from employment growth, and economic instability threatens to reverse observed gains in youth employment, the International Labour Organization said Monday.

The global youth unemployment rate stabilized at 13 percent in 2016 but it is expected to rise slightly to 13.1 percent this year, the agency said in its Global Employment Trends for Youth 2017 report.

The number of unemployed youth decreased to 70.9 million in 2017 from the crisis peak of 76.7 million in 2009. However, the number is expected to rise by a further 200,000 in 2018, reaching a total of 71.1 million.

The report also highlighted the continued vulnerabilities of young women in the labor market.

The ILO observed that the youth employment challenge is not just about job creation, but also about the quality of work and decent jobs for youth.

"Addressing these persistent labour 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.

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