Global Employment Trends (GET) for Youth 2024 Report

The International Labour Organization (ILO) has published the Global Employment Trends for Youth 2024 report, marking its 20th anniversary. The report highlights significant achievements, ongoing challenges, and future outlooks for youth employment globally.

Key Highlights

• Post-COVID Recovery:
• The global youth unemployment rate stands at 13% in 2023, the lowest in 15 years.
• Approximately 64.9 million young individuals are unemployed, the lowest figure since 2000.
• NEET Status:
• 20.4% of youth were classified as Not in Employment, Education, or Training (NEET) in 2023, indicating significant labor market exclusion.
• Two-thirds of NEET youth are women.
• Global Challenges:
• Inequalities of Opportunity: In high-income countries, 4 in 5 young adult workers hold regular paid jobs, compared to just 1 in 5 in low-income countries.
• Regional Disparities: While Africa is projected to see a growth in its youth labor force by 2050, other regions may face contractions. In the Arab states and North Africa, 1 in 3 youth are unemployed.
• Youth Well-being: Many young people experience stress related to job loss, economic instability, and a lack of social mobility across generations.
• Educational Mismatch: In developing economies, 2 in 3 young adult workers have qualifications that do not align well with their job roles.

Recommendations from the Report

• Enhance Education and Training: Improve the transition from school to work and address skill mismatches to better prepare youth for the labor market.
• Targeted Labor Market Policies: Implement policies specifically designed to support disadvantaged youth, ensuring they have access to employment opportunities.
• Promote Entrepreneurship: Encourage self-employment and entrepreneurial initiatives among young people to foster job creation.
• Gender-Responsive Policies: Focus on job creation through macroeconomic and sectoral policies that take gender considerations into account.
• Youth Inclusion in Policy Making: Involve young people in the development of policies affecting their lives and enhance collaboration between public and private sectors to create more opportunities.

Conclusion

The GET for Youth 2024 report sheds light on both progress and persistent challenges in youth employment globally. By addressing these issues through targeted recommendations, stakeholders can work towards more inclusive and equitable labor markets for young people.