Global youth unemployment falls to 15-yr low in ’23

Global youth unemployment rates hit a 15-year low in 2023, with 64.9 million unemployed individuals aged 15-24, marking a 13 per cent unemployment rate, according to a new report by the International Labour Organization (ILO).

The organisation forecasts that the rate shall drop to 12.8 per cent in the coming years. Regional disparities exist, with higher youth unemployment rates observed in the Arab states, East Asia, and South-East Asia and the Pacific compared to 2019.

Moreover, the report reveals that youngmen have experienced greater benefits from the labour market recovery compared to young women. In 2023, the youth unemployment rates for both genders were almost equal at 12.9 per cent for young women and 13 per cent for young men, a shift from pre-pandemic trends.

However, the global youth not in education, employment or training (NEET) rate for young women was double that of young men in 2023, standing at 28.1 per cent compared to 13.1 per cent

The ILO report emphasises the need to focus on improving the basics of decent work to address young people’s concerns about the job market and boost their optimism for the future.

Attribution: The International Labour Organisation report

Subediting: M. S. Salama