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75 mn youths to be unemployed in 2012: ILO
Tuesday May 22, 2012 05:03:46 PM,
IANS
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Geneva: Nearly 75
million youths across the world will stay unemployed in 2012, said
a report released Tuesday by the International Labour Organisation
(ILO).
This accounts for 12.7 percent of the global youth labour force
aged 15 to 24. The number is an increase of four million since
2007, said Xinhua, citing the "Global Employment Trends for Youth
2012" report.
The crisis-linked withdrawal from the labour market is
particularly strong in developed economies, with an 18-percent
youth unemployment rate being projected for this year, the report
said.
It said the rate would even be higher if one takes into account
the 6.4 million youth worldwide who have either given up searching
for a job or have decided to prolong their studies due to the
extremely adverse conditions in the labour market.
The rate is not expected to come down until at least 2016, the
report said.
Further pressure on unemployment rates is expected when those
extending their stay in the education system because of limited
job prospects eventually enter the labour market.
"The youth unemployment crisis can be beaten but only if job
creation for young people becomes a key priority in policy-making
and private sector investment picks up significantly," said ILO
Employment Sector executive director Jose Manuel Salazar-Xirinachs.
"This includes measures such as offering tax and other incentives
to enterprises who hire young people, efforts to reduce the skills
mismatch among youth, entrepreneurship programmes that integrate
skills training, mentoring and access to capital, and the
improvement of social protection for the young," he said.
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