Tuesday September 30, 2014 Search
Weather | Athens
26o C
17o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Youth unemployment a global problem

 According to ILO, 2012 joblessness will hit 75 mln in 18-24 age group

Unemployment among people aged 18-24 is expected to remain high through 2016, according to the International Labor Organization, which predicted in its annual report, published on Monday, May 21, that global joblessness will reach 12.7 percent this year, or 75 million people, slightly higher than last year’s 12.6 percent. That figure is not expected to change by any great degree for the next four years.

According to the ILO report, the global economic crisis reversed the downward trend of unemployment recorded in the 2002-07 period, with the peak of the crisis in 2009 dealing the fatal blow to gains made in previous years.

The unemployment rate in the 18-24 age group, the report says, has risen by approximately 1 percent since 2007, and while there are great differences between countries and geographical regions, the overall trend presents cause for concern, especially regarding the impact on future salaries and employment rates.

“Discouraged by high youth unemployment rates, many young people have given up the job search altogether, or decided to postpone it and continue their stay in the education system,” the report says, adding: “If the unemployment rate is adjusted for the dropout induced by the economic crisis, the global youth unemployment rate for 2011 would rise from 12.6 to 13.6 percent.”

The ILO report also says that “pressure on young job seekers will mount further when those young people that have been delaying their entry into the labor market will return to activity, and start searching for work.”

However, it also stresses that many of those who are employed are often trapped in part-time or limited-time contracts and enjoy few benefits.

“The growth of temporary employment and part-time work in the past decade, in particular since the global economic crisis, suggests that this work is increasingly taken up because it is the only option available,” the report says.

The ILO rejects calls from the business world for the complete deregulation of the labor market in order to make hiring more attractive. “Further flexibilization and deregulation of the labor market is unlikely to help in this current situation,” the chief of the ILO Employment Trends Unit, Ekkehard Ernst, told the Financial Times.

Ernst cites the example of Spain, where the deregulation of the labor market meant more jobs for young people in the good years but rapid firings when the economy began to head south.

He also stresses that in countries like Spain, as in Greece, where unemployment among young people stands at over 50 percent, emphasis should be put on measures for stimulating the economy rather than austerity.

On a broader note, the ILO report says that young people who have not been inducted into the labor market and are not studying -- often representing 10 percent of the population in the 18-24 age group -- have “become a serious concern for policymakers, in particular in developed countries.”

“In order to design appropriate labor market and macroeconomic policies to promote better labor market outcomes for youth, it is necessary to understand the specific situation of young people in labor markets,” the report says.

Also read:

Thousands of Greeks head abroad in search of work

Collapse of the job market and its repercussions

Exclusion from the future

ekathimerini.com , Tuesday June 5, 2012 (20:37)  
Degas painting valued at 6 million euros stolen from Cypriot pensioner
Elderly man dies while waiting to pay property tax
Three teens questioned over video showing torture of dog
Roma camp evacuation postponed; flow resumes on Mesogeion Avenue
Attica Bank says optimistic about plan to raise cash
Greek lender Attica Bank on Tuesday dismissed speculation that its plans to raise cash and plug a capital shortfall could flounder, saying it was confident of success. Unlike its larger peer...
Eurozone inflation numbers pile more pressure on ECB
Eurozone inflation slowed further in September on falling prices of unprocessed food and energy, a first estimate showed on Tuesday, sending the euro lower on expectations of further Europea...
Inside Business
SOCCER
All team sports suspended next weekend in memory of dead fan
The government announced on Monday the suspension of all team sports events in Greece scheduled for next weekend, October 4 and 5, in the memory of the Ethnikos Piraeus fan who died a few ho...
SOCCER
Karamanos punishes Michel for deeming him surplus
Atromitos forced Olympiakoss first loss this season in all competitions on Saturday to allow PAOK to go alone on top of the Super League table on Sunday. Odds-on title favorite Olympiakos l...
Inside Sports
COMMENTARY
Next-day jitters
It is usual for Greek governments, whether one-party or coalitions (which are normally loath to actually work together), to claim that their only real challenge is dealing with the countrys...
EDITORIAL
No sweet debt deals
The lions share of Greeces debt is held by European Union member states and the International Monetary Fund. A writedown of the European part of the debt would require the approval of the ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Attica Bank says optimistic about plan to raise cash
2. Degas painting valued at 6 million euros stolen from Cypriot pensioner
3. Eurozone inflation numbers pile more pressure on ECB
4. Elderly man dies while waiting to pay property tax
5. Three teens questioned over video showing torture of dog
6. Greek unemployment dips to 27 pct in June, but still highest in EU
more news
Today
This Week
1. Next-day jitters
2. Roma camp off Mesogeion Avenue set for demolition amid reactions
3. No sweet debt deals
4. Commissioner-designate Avramopoulos to face three-hour interview on EU's migration portfolio
5. Roma camp evacuation postponed; flow resumes on Mesogeion Avenue
6. EU gives more aid to farmers hurt by Russia sanctions
Today
This Week
1. Alexander the Great's tomb not at Amphipolis, says Culture Minister
2. Greece may opt for unusual president to avoid snap polls, Venizelos says
3. Woman allegedly buried alive by accident in northern Greece
4. Salaries in Greece continue to slide, dipping 1.4 pct in Q2
5. Venizelos denies jihadis are being trained in Greece
6. Should you bet with Kissinger on where the world is heading?
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.