2024-08-14 03:44:51
The youth unemployment rate worldwide has reached its lowest level in 15 years, according to the International Labour Organization (ILO).
However, the good news is accompanied by growing fears about the quality of available jobs, which has generated “growing anxiety” among young workers, the ILO said on Monday.
The data reveal that although the number of unemployed young people globally has fallen to historic levelsregions such as Asia, the Pacific and the Arab world, as well as women, are not fully reaping the benefits of this post-COVID-19 economic recovery. In these places, creating quality jobs remains a considerable challenge.
Latin America, for its part, has shown a notable decrease in its youth unemployment rate, registering a drop of 4.5 percentage points.standing at 13.4%. This is a positive figure on the surface, but the labour market in the region reveals a more complex situation. Most of the available jobs are temporary, precarious or informal, which reflects a lack of stability and security for young workers.
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The ILO has stressed the importance of addressing demographic trends such as the “youth earthquake” in Africa, and the urgent need to create decent jobs to ensure social justice and global economic sustainability. Despite declining youth unemployment figures, millions of young people around the world continue to struggle to find work that offers them security and decent conditions.
The ILO report also highlights that although global youth unemployment fell to 13% in 2023, below pre-pandemic levels, the recovery has not been uniform. In East Asia, the Arab States and South-East Asia and the Pacific, youth unemployment rates have been on an upward trend, with notable increases.
Sara Elder, Head of Employment Analysis and Public Policy at the ILO, said that regional disparities in youth employment recovery are a reflection of the deep economic and social inequalities that persist around the world.
In Latin America, the situation is particularly worrying. The incidence of temporary employment, defined as jobs with contracts lasting less than 12 months, has increased in the last two decades in the regionWhen self-employment, which also lacks the security provided by social protection, is added, the report concludes that more than half (51%) of young adult workers in Latin America and the Caribbean are in insecure jobs.
The ILO warns that while the decline in youth unemployment is a positive step, the quality of the jobs created should not be overlooked.
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