Youth employment worldwide is not improving, according to the latest study by the International Labour Organization, and three out of four young people work in the informal economy.
The International Labour Organization (ILO) released its latest version of the “Global Employment Trends for Youth.” Although there are significant regional disparities, overall, young people aged 15 to 24 are facing high unemployment rates, informal work, and job insecurity.
The summary is presented in 5 key numbers.
o 13.1% of young people are unemployed
In 2017, the global youth unemployment rate slightly increased compared to 2016, when it was only 13%. It is highest in Arab countries (30%). Globally, youth unemployment affects 71 million young men and women aged 15 to 24.
o 77% of young people work in the informal economy
Nearly 77% of young workers hold informal jobs. In mature economies, this is the case for one in five young people. However, in developing countries, almost all young people (97%) work without a contract, while emerging, wealthier countries have only 83% of young workers in the informal economy. These jobs, often family-run, in agriculture, are also driven by the development of the health, well-being, and restaurant sectors. In comparison, informal work only concerns 58% of adults across all countries.
o 22% of young people are neither working nor in training
The ILO estimates that 21.8% of young people are neither employed in any form, attending school, nor in training. More than three-quarters of young people in this situation are women.
o 25.6 million new workers by 2030
By 2030, 25.6 million young workers aged 15 to 29 will enter the labor market. This increase in the workforce will mainly come from Africa.
In 2030, it is estimated that 77% of the youth labor force aged 15 to 24 will live in developing countries in Africa, Asia, and the Pacific.
o 17% of young workers are extremely poor
In 2017, 16.7% of young workers in emerging and developing countries live below the extreme poverty threshold, earning $1.90 or less per day.
