Global Employment Trends for Youth 2013
The weakening of the global recovery in 2012 and 2013 has further aggravated the youth jobs crisis and the queues for available jobs have become longer and longer for some unfortunate young jobseekers. So long, in fact, that many youth are giving up on the job search. The prolonged jobs crisis also forces the current generation of youth to be less selective about the type of job they are prepared to accept, a tendency that was already evident before the crisis. Increasing numbers of youth are now turning to available part‐time jobs or find themselves stuck in temporary employment. Secure jobs, which were once the norm for previous generations – at least in the advanced economies – have become less easily accessible for today’s youth. The global youth unemployment rate, estimated at 12.6 per cent in 2013, is close to its crisis peak. 73 million young people are estimated to be unemployed in 2013.1 At the same time, informal employment among young people remains pervasive and transitions to decent work are slow and difficult. The economic and social costs of unemployment, long‐term unemployment, discouragement and widespread low‐quality jobs for young people continue to rise and undermine economies’ growth potential.