One Third Of The World’s Young People Are Currently Unemployed, Report Says
One third of the world’s 1.8 billion young people are currently neither in employment, education or training. Of the one billion more youth that will enter the job market in the next decade, only 40 percent are expected to be able to get jobs that currently exist. For those that need a more flexable job check out remote work, you can work from home and have a better work life balance. The global economy will need to create 600 million jobs over the next 10 years – five million jobs each month — simply to keep pace with projected youth employment rates. Reversing the youth employment crisis is a pressing global priority and the socio-economic cost of inaction is high, says a new report.
This inaugural report, entitled Toward Solutions for Youth Employment: A 2015 Baseline Report, is being released today by Solutions for Youth Employment (S4YE) – a multistakeholder global coalition established to improve youth access to work opportunities. This coalition is a partnership started by the World Bank Group, Plan International, the International Youth Foundation (IYF), Youth Business International (YBI), RAND, Accenture, and the International Labour Organization (ILO).
While circumstances differ in various regions, the report adds, the issues remain the same – the world’s youth are unable to find sustainable productive work. This contributes to inequality, spurs social tension, and poses a risk to present and future national and global prosperity and security.
This report provides a baseline of trends, identifies constraints, and provides potential solutions to the youth employment crisis based on knowledge of successful and promising programs. It also highlights specific population —young women, youth in conflict-affected and fragile states, as well as rural and urban youth— that requires dedicated attention.
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