The “Global Employment Trends (GET) for Youth 2024: Decent Work, Brighter Futures” report, published by the International Labour Organisation (ILO), marks the 20th anniversary of this crucial publication, which focuses on the achievements, challenges, and future outlook for youth employment worldwide.
Key Highlights of the Report:
- Post-COVID Recovery: The global youth unemployment rate (YUR) in 2023 dropped to 13%, the lowest in 15 years. This improvement reflects a significant recovery from the pandemic-induced job losses, with 64.9 million unemployed youth, the lowest figure since the start of the millennium.
- NEET Status: In 2023, 20.4% of global youth were categorized as NEET (Not in Employment, Education, or Training), indicating a persistent challenge in integrating young people into the labor market. Notably, two-thirds of these NEET individuals are women, highlighting ongoing gender disparities.
- Global Challenges:
- Inequalities of Opportunity: A stark contrast exists between high-income and low-income countries, where 4 in 5 young adult workers hold regular paid jobs in high-income nations, compared to only 1 in 5 in low-income countries.
- Regional Disparities: The youth labor force is expected to grow in Africa by 2050, while other regions anticipate contraction. Additionally, youth unemployment remains alarmingly high in Arab states and North Africa, with 1 in 3 youth unemployed.
- Youth Well-Being Concerns: Many young people are increasingly stressed about job security, economic conditions, and the lack of social mobility across generations.
- Educational Mismatch: In developing economies, two-thirds of young adult workers hold qualifications that do not match their job requirements, leading to underemployment and reduced job satisfaction.
- Recommendations:
- Enhance Education and Training: Improve school-to-work transitions and address skill mismatches by aligning educational outcomes with labor market needs.
- Targeted Labour Market Policies: Focus on supporting disadvantaged youth through tailored labor market interventions.
- Promote Entrepreneurship: Encourage entrepreneurship and self-employment among young people as viable career paths.
- Gender-Responsive Policies: Amplify job creation efforts through macroeconomic and sectoral policies that are sensitive to gender disparities.
- Youth Inclusion in Policy Making: Strengthen the involvement of youth in policy formulation, improve international cooperation, and enhance public-private partnerships to better address youth employment challenges.
Global Youth Unemployment Trends:
The report highlights that the global YUR, which stood at 13% in 2023, is projected to further decrease to 12.8% by 2024 and 2025. This decline reflects a continued global recovery and the impact of targeted youth employment policies.
This 12th edition of the GET for Youth report, first issued in 2004, underscores the importance of creating decent work opportunities for young people as a key component of achieving sustainable development and economic prosperity worldwide.
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