Global youth unemployment hits 15 year low, but challenges persist

The global youth unemployment rate has reached a 15-year low, standing at 13% in 2023, which brings some hope after the challenges posed by the COVID-19 pandemic. However, concerns remain, especially in regions like the Arab States and North Africa, where many young people struggle to find work.

Gilbert Houngbo, head of the International Labour Organisation (ILO), expressed concerns that finding secure, decent jobs is becoming "harder than ever." Last year, 65 million young people were jobless, which highlights the ongoing difficulties in the job market.

Another worrying trend is that 20% of young people worldwide are not in employment, education, or training (NEET). This group, which includes a significant number of women, faces significant risks of being left behind, as they miss out on opportunities to gain skills and experience that are essential for their future.

Despite these challenges, there is hope. The ILO report calls for targeted efforts to address these issues, particularly in regions and among groups most affected by unemployment. By focusing on creating better jobs and making sure that all young people get equal opportunities, there is a huge potential to build a brighter future.

Key facts reflecting upon the current youth unemployment situation:

 Unemployment rate: 13% globally, the lowest in 15 years.

 NEET rate: 20.4% of young people, with most being women.

 Regional issues: High youth unemployment in the Arab States and North Africa.

Although the drop in unemployment is encouraging, there are still several other challenges that must be addressed. It is the need of the hour to support young people, especially those in vulnerable situations, so they can find secure jobs and build a better future. The ILO and global leaders are calling for targeted interventions to address these ongoing issues and create a more inclusive and fair job market for everyone.