Friday October 24, 2014 Search
Weather | Athens
19o C
12o 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)  
Greek private workers´ union calls 24-hour strike for November 27
Finance Minister appeals for support for amendments ahead of vote
Credit line only open to Greece if it meets economic targets, sources say
Venizelos slams Turkey for ´flagrant violation of international law´ off Cyprus
Tax revenues up by 1 bln euros in 2nd quarter, public sector wages down
Tax revenues increased by nearly 1 billion euros in the second quarter of this year, according to data released on Friday by the Hellenic Statistical Authority (ELSTAT) on Friday while publi...
ECB bank assessment to show 6-billion-euro capital gap, Citi says
The euro area’s biggest banks will show a 6 billion-euro ($7.6 billion) capital gap in the European Central Bank’s tests of the quality of their assets and ability to withstand economic shoc...
Inside Business
SOCCER
Panathinaikos snatches point at Eindhoven
Panathinaikos offered its fans a glimpse of its glorious past in European competitions snatching a draw at PSV Eindhoven, on an otherwise bad night for Greek soccer in the Europa League, as ...
BASKETBALL
Greens succumb to first loss at Bayern
Panathinaikos’s unbeaten run in all competitions came an end on Thursday as the Greek champion lost 81-75 at Bayern Munich for the Euroleague. Bayern is a team that improves every year, and ...
Inside Sports
COMMENTARY
Tension for tension’s sake?
It is evident that Turkish President Recep Tayyip Erdogan feeds off tension. He would barely have achieved as much as he has – and prevailed – if he had not been so keen to confront a series...
EDITORIAL
Testing ground
The Regional Authority of Attica is a good testing ground for politicians who appear to thrive on accusations to prove whether they can actually solve major problems of a practical nature. T...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Tax revenues up by 1 bln euros in 2nd quarter, public sector wages down
2. ECB bank assessment to show 6-billion-euro capital gap, Citi says
3. EU says Turkey´s energy hunt off Cyprus is a a ´serious concern´
4. Greek private workers´ union calls 24-hour strike for November 27
5. Finance Minister appeals for support for amendments ahead of vote
6. Credit line only open to Greece if it meets economic targets, sources say
more news
Today
This Week
1. Woman killed in tram accident in Floisvo, south of Athens
2. ECB vies for third time lucky in European stress tests
3. Clocks to go back 1 hour on Sunday
4. Venizelos slams Turkey for 'flagrant violation of international law' off Cyprus
5. Cyprus GDP upgrade seen as boosting bailout exit plans
6. Cyprus president to be released from hospital on Friday following readmission
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Greece’s closed society is central to its current malaise
3. Coalition shooting itself in the foot
4. Greece must stick to reforms, says Schaeuble
5. At least 11 banks to fail European stress tests, three in Greece, report says
6. Cyprus to block Turkey's EU talks after EEZ violation
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.