GENEVA (AN) — Global youth unemployment rates fell to 13% in 2023, equivalent to 64.9 million people. That's below pre-pandemic levels – but not all regions benefited equally. Unemployment rates rose for 15- to 24-year-olds in the Middle East, Southeast Asia and Pacific regions.
What's new: The 2023 global rate is a 15-year low and a decline from the pre-COVID-19 pandemic rate of 13.8% in 2019, the International Labor Organization reported on Monday. But the 2023 rates in three regions – the Middle East, Southeast Asia and Pacific – were higher than in 2019.
What's next: The global youth unemployment rate is expected to fall to 12.8% in 2024 and 2025, but not in the three regions lagging behind the economic recovery. In North America and Europe, ILO says, historically low youth unemployment rates "are expected to creep up again." Youth will need to keep their skills development on pace with evolving demands for green and digital jobs. Young women will need more jobs, and disadvantaged youth will need stronger labor market policies. Demographic trends such as the African ‘youthquake’ – more young Africans entering the workforce than the rest of the world combined – call for more decent jobs to maintain social justice and the global economy.
What's important: Too many young people in emerging and developing economies have limited opportunities and face persistent challenges trying to find decent jobs, according to ILO, and the number of 15- to 24-year-olds who are not in jobs, education or training is concerning. Globally, more than half of young workers are in informal employment – working arrangements not subject to national labor laws, income taxes, or protections like severance pay and paid leave.
Who's involved: Before the pandemic, young men experienced higher unemployment rates than young women. But by 2023, unemployment rates were nearly equal: 12.9% for young women and 13% for young men. “Opportunities for young people are highly unequal; with many young women, young people with limited financial means or from any minority background still struggling," says ILO Director-General Gilbert Houngbo. "Without equal opportunities to education and decent jobs, millions of young people are missing out on their chances for a better future."
What's happening now: Growth in modern services and manufacturing jobs for youth is limited, though digitalization and AI might change that. Educated youth, especially in middle-income countries, can't find enough high-skill jobs. A growing number of conflicts around the world also threaten young people’s future livelihoods and can push them into migration or towards extremism.
