World Bank Essay Competition Youth Unemployment How Do I Solve This Math Problem
More than one third of the young people in the world are unemployed, have completely given up looking for a job or are working but still living below the a day poverty line (ILO), or have migrated.
Young job seekers face increasing difficulties finding work in the current economic scenario.
All told, there are perhaps as many as 290m 15-to-24-year-olds not participating in the labour market Some of these youths choose not to work.
About a quarter of the 290m are south Asian women who do not work for cultural reasons.
This is not simply the result of the financial crisis, though that is part of the explanation, having affected young people in the rich world particularly badly.
The economic loss can be substantial, too, and not just in the form of higher welfare payments.
Current world population includes an estimated 1.2 billion young people between the ages of 15 and 24 years, which is about 24.7% of the world’s working age population.
Worldwide youth unemployment is high, almost three times higher than the adult unemployment rate.
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YOUTH unemployment is blighting a whole generation of youngsters.