International youth unemployment rising alarmingly

Young people have a hard time nowadays. Between 2008 and 2011 the number of unemployed youth (15-24) increased by nearly 25 percent. The percentage of unemployed in this age group is now worldwide at almost 12.6 percent, which makes for 75 million young people struggling to find a job.

This is shown by the International Labour Office (ILO) in the report “Global Employment Trends for Youth 2012.” The increase, according to the ILO is due to poor labor market conditions. The future also doesn’t look so bright: it is expected that until 2016 the unemployment rate will remain at the same level.

The crisis made young people withdrew from the labor market: they give up their job search or prolonged their studies. If these drop-outs are counted, the overall global youth unemployment rate rises to 13.6 percent. According to the ILO, this withdrawal is most visible in the economically developed countries and the EU.

Is the whole effort to get higher education hopeless, then? Not necessarily. A diploma still provides some protection against unemployment.Between 2000 and 2010 unemployment increased the most among jobs that don’t require higher education. In the Netherlands, the higher the educational level, the lower the unemployment rate.