Anika Begay
ZURICH (Reuters) – Youth unemployment worldwide fell to a 15-year low last year and is likely to continue falling through 2025, although weaker growth means Asia has lagged behind the trend, the International Labour Organization said in a report on Monday.
The ILO said that 64.9 million people aged 15 to 24 worldwide were unemployed last year, representing a rate of 13 per cent, and it expects this rate to decline further in the next two years, reaching 12.8 per cent in 2024 and 2025.
According to the ILO, the improvement in the market was driven by strong economic growth rates following the COVID-19 pandemic, which stimulated demand for youth labour.
In 2023, youth unemployment rates returned to pre-pandemic levels or decreased in most, but not all, subregions.
According to the ILO, youth unemployment rates in the Arab countries, East Asia, South-East Asia and the Pacific were higher last year than in 2019.
For the Arab states, it was a continuation of the pre-COVID-19 trend. But for the Asian sub-regions, it marked a reversal of the stronger growth of the pre-COVID years.
The ILO also noted that the average age of Africa’s population is much lower than that of more developed nations, raising questions about the country’s economic sustainability.
Africa’s impending “youth earthquake” means job creation is becoming a critical issue for social justice and the future of the global economy, the organization said.
