Young Workers Hit By Job Crisis, Youth Unemployment 12.7%

Young people continue to be among the hardest hit by the jobs crisis, warns the International Labour Organisation (ILO) in its annual report on the state of employment worldwide.

Globally young people are nearly three times as likely as adults to be unemployed. The global youth unemployment rate, at 12.7%, remains a full percentage point above the 2007 pre-financial crisis level.

No Improvement Seen For Young Workers

And young workers shouldn’t expect things to get better anytime soon.

Judging by the present course, the ILO report says, there is little hope for a substantial improvement in their near-term employment prospects.

The ILO’s Global Employment Trends 2012 report says 74.8 million youth aged 15-24 were unemployed in 2011, an increase of more than 4 million since 2007.

The report’s main findings also include:

There has been a marked slowdown in the rate of progress in reducing the number of working poor.

Nearly 30% of all workers in the world – more than 900 million – were living with their families below the US $2 poverty line in 2011, or about 55 million more than expected on the basis of pre-crisis trends. Of these 900 million working poor, about half were living below the US $1.25 extreme poverty line.

The number of workers in vulnerable employment globally in 2011 is estimated at 1.52 billion, an increase of 136 million since 2000 and of nearly 23 millon since 2009.

Among women, 50.5% are in vulnerable employment, a rate that exceeds the corresponding share for men (48.2%).

–Robert Scally

Read more: https://www.wideworldofwork.com/2012/01/23/advice-for-job-seekers-over-50-how-to-avoid-mistakes/