The United Nations reported on Monday that global youth unemployment has reached its lowest level in 15 years. Despite this positive trend, significant disparities remain across different regions, with some areas still grappling with the impacts of the Covid-19 pandemic.
According to the International Labour Organization (ILO), the global youth unemployment rate fell to 13 percent in 2023, marking a notable decrease from the pre-pandemic rate of 13.8 percent in 2019. This figure represents the lowest level of youth unemployment since the early 2000s. The ILO projects that the rate will decline further to 12.8 percent over the next two years.
However, the report highlights that the recovery has been uneven. In several regions, including the Arab States, East Asia, and Southeast Asia and the Pacific, youth unemployment rates in 2023 were higher than in 2019. The ILO’s Global Employment Trends for Youth 2024 report also expressed concern over the growing trend of informal and casual employment among young people, which exacerbates job insecurity.
The report reveals that 20.4 percent of young people were classified as not in employment, education, or training (NEET) in 2023. The NEET rate is particularly concerning for young women, with a rate of 28.1 percent compared to 13.1 percent for young men. The majority of young workers globally are employed in informal sectors, with only high- and upper-middle-income economies offering more secure and regular employment opportunities.
ILO chief Gilbert F. Houngbo emphasized that despite the positive economic indicators, young people remain anxious about their future. Many are stressed by job instability, lack of social mobility, and insufficient prospects for financial independence. The ILO’s report notes that temporary and poorly protected jobs dominate the youth employment landscape, contributing to a sense of insecurity among the younger population.
Houngbo stressed the importance of providing decent work opportunities for young people, highlighting that stability, inclusion, and social justice are critical to building peaceful societies. He called for continued efforts to address the persistent challenges faced by young workers and to improve their job prospects and working conditions.
