UN Reports Lowest Global Youth Unemployment Rate in 15 Years
The United Nations reports that global youth unemployment is at its lowest level in 15 years, with a rate of 13% in 2023. However, recovery remains uneven, with higher unemployment in regions like the Arab States, East Asia, and the Pacific. Many young people still struggle with job security and financial independence.
Global youth unemployment has reached its lowest level in 15 years, according to the United Nations.
The International Labour Organization (ILO) reported that the number of unemployed young people, aged 15 to 24, stood at 64.9 million in 2023.
The rate dropped to 13% from 13.8% in 2019, before the Covid-19 pandemic.
The ILO predicts further declines to 12.8% in the coming years. However, the recovery is uneven across regions.
Youth unemployment rates remain higher in the Arab States, East Asia, South-East Asia, and the Pacific compared to 2019 levels.
Additionally, the ILO’s Global Employment Trends for Youth 2024 report highlights the concerning numbers of young people not in employment, education, or training (NEET), particularly women who account for two-thirds of NEETs.
Informal employment remains prevalent globally among young workers, except in high- and upper-middle-income economies. ILO chief Gilbert F.
Houngbo emphasized that despite positive economic trends, many young people remain anxious about job security, financial independence, and future social mobility.
The International Labour Organization (ILO) reported that the number of unemployed young people, aged 15 to 24, stood at 64.9 million in 2023.
The rate dropped to 13% from 13.8% in 2019, before the Covid-19 pandemic.
The ILO predicts further declines to 12.8% in the coming years. However, the recovery is uneven across regions.
Youth unemployment rates remain higher in the Arab States, East Asia, South-East Asia, and the Pacific compared to 2019 levels.
Additionally, the ILO’s Global Employment Trends for Youth 2024 report highlights the concerning numbers of young people not in employment, education, or training (NEET), particularly women who account for two-thirds of NEETs.
Informal employment remains prevalent globally among young workers, except in high- and upper-middle-income economies. ILO chief Gilbert F.
Houngbo emphasized that despite positive economic trends, many young people remain anxious about job security, financial independence, and future social mobility.