The International Labour Organization (ILO) has just published the report, Global Employment Trends for Youth 2010. The study presents the latest global and regional labor market trends for youth and explores how the global economic crisis has exposed the vulnerabilities of young people around the world.
The youth unemployment rate increased from 11.9 percent in 2007 to 13.0 percent in 2009. The report stresses that these trends will have “significant consequences for young people as upcoming cohorts of new entrants join the ranks of the already unemployed” and warns of the “risk of a crisis legacy of a lost generation comprised of young people who have dropped out of the labor market, having lost all hope of being able to work for a decent living.”
According to ILO projections, the global youth unemployment rate is expected to increase through 2010, to 13.1 per cent, followed by a moderate decline to 12.7 per cent in 2011.
The full report is available online.