HAVANA._ The United Nations Organization warned late last year that 60 percent of young people all over the world were not engaged in either work or study; one the most alarming statistics regarding the labor market.
If unemployment figures have shot up in various parts of the world since the economic crisis of 2008, statistics taken from a 2014 report on The State of the World Population demonstrate that it is the under 25’s who have been most affected by the situation.
According to the UN Population Fund report, there are 73.4 million young people unemployed worldwide, accounting for almost 40 percent of all those out of work at present.
The situation is even more alarming when the number of under-25’s in menial and low paid, insecure and casual jobs are taken into account.
The slight upturn in the global economy would seem to be insufficient to bring employment back to precrisis levels because in the 34 member countries of the Organization for Economic Cooperation and Development (OECD) alone, 16.3 million people have been out of work for more than 12 months, twice the figure of 2007.
Even the International Monetary Fund (IMF), whose recipes are often slammed as it imposes neo-liberal rescue plans that do away with worker’s rights, has acknowledged the existence of a crisis which has left 201 million workers of all ages unemployed.
IMF director, Christine Lagarde, has said that if all the unemployed were to form a state, it would be the fifth largest on the planet.
Commenting on the issue of youth unemployment, the official said that in the face of this situation there was an ongoing risk of low growth andmin significant job creation rates.
She pointed out that in some regions, such as southern Europe and northern Africa, this had become a chronic social ailment.
Lagarde’s assertions have been confirmed in various European nations, including Spain and Greece, whose youth unemployment rates are 53.8 and 53.1 percent, respectively.
In the Eurozone, unemployment affects 23.2 percent of the younger generation, a figure far greater than that of the overall labor force which stands at 11.5 percent within the common currency area.
According to German Chancellor Angela Merkel, the region does not presently offer a future for its young , who are affected by unemployment rates of between 30 and 40 percent and hold out little hope of finding work.
There is little hope of improvement in the coming years as the International Labor Organization (ILO) recently forecast that by 2019 there will be 212 million unemployed globally, an increase of 11 million on today’s figures.
According to ILO´s World Social and Employment Outlook for 2015 report, launched last January, this situation will impact most on the young, and on young women, who remain affected by higher unemployment rates.
For Raymond Torres, chief of the ILO’s Research Department, the increasing rates for this age-group are common to all regions and this situation has come about despite improving educational levels all of which breeds social discontent.
Torres warned that levels of social conflict will increase as the rate of youth unemployment rises.Share on FB Share on TT