The ILO published its Report on Global Employment Trends for Youth 2013. The report provides an update on youth labour markets around the world and underlines that the critical state of global youth unemployment- the estimated 73 million unemployed young people, will have long term scarring effects for decades to come.
Youth unemployment is a global issue that threatens to undermine the very fabric of our society. Youth unemployment increased by as much as 24.9 per cent in the Developed Economies and the European Union between 2008 and 2012, and the youth unemployment rate was at a decades‐long high of 18.1 per cent in 2012. The ILO report highlights the growing issues of skills mismatch, which leads to depressed wages, lower job satisfaction and a reduction in productivity. Precarious work remains a growing trend and youth discouragement in socio-economic and political systems is equally on the rise. The report advocates for creative and wide-ranging policy solutions and particular emphasis on the issues that characterise youth transition to decent work. It suggests that in advanced economies, measures should include education and training, work experience support and recruitment incentives for employers.
The European Youth Forum strongly believes that the establishment of European youth guarantee can be an efficient and proactive action to help overcome the disproportionate level of unemployment among young people. Several national youth councils and INGYOs have been advocating for the youth guarantee on a national and regional level, raising awareness both among young people and decision-makers. Other targeted actions for long-term growth and youth employment, as well as increased investment in young people however, are needed to address the crisis.
European Youth Forum: Youth Guarantee Infographic – October 2012