Global Employment Trends For Youth: 2011 Update
In August 2010, the ILO published the Global Employment Trends for Youth: Special issue on the impact of the global economic crisis on youth [GET Youth 2010]. The report presented an analysis of the latest available world and regional aggregates of key labour market indicators for young people aged 15 to 24 years, with a specific focus on how young people fared in the face of the recent global economic crisis.
It highlighted the following trends:
- The crisis led to a substantial increase in youth unemployment rates, reversing earlier favorable trends over the past decade. At the peak of the crisis period in 2009, the global youth unemployment rate saw its largest annual increase on record. The youth unemployment rate rose from 11.8 to 12.7 per cent between 2008 and 2009, marking the largest annual increase over the 20 years of available global estimates and reversing the pre-crisis trend of declining youth unemployment rates since 2002.
- That the global youth unemployment rate increased to a greater degree than the adult unemployment rate supported the classic premise that youth are more vulnerable to economic shocks. Young people are the “first out” and “last in” during times of economic recession.
- The report had predicted a longer recovery for youth than adults in the labour market. The global youth unemployment numbers and rates were expected to decline only in 2011 whereas the adult unemployment rate was predicted to decline one year prior in 2010.
One year later, with an environment of growing uncertainty in the economic recovery and stalled recovery in the job market, the ILO now takes the opportunity to revisit the much publicized youth labour market figures to assess where young men and women currently stand. Are prospects for youth employment better or worse than predicted in the GET Youth 2010? What are the latest figures? What has changed since the report was released, where and why? These are some of the questions that will be examined in the present update.1
Read the update below