Geneva: The International Labour Organization (ILO) has released a new report indicating some improvement in the global labor market for young people, yet raising concerns over the persistent high number of youth not engaged in employment, education, or training (NEET).
According to International Labour Organization, the report titled Global Employment Trends for Youth 2024 (GET for Youth) underscores that while the youth unemployment rate has reached a 15-year low, falling to 13% from 13.8% in 2019, the number of NEET youths remains worrisomely high. In 2023, 20.4% of global youth were categorized as NEET, with two-thirds being female. The report also notes uneven benefits from the economic recovery post-COVID-19, particularly affecting young people in certain regions and many young women.
Despite a reduction in youth unemployment expected to continue into the next year, regional disparities persist, with higher unemployment rates noted in the Arab States, East Asia, and South-East Asia and the Pacific compared to 2019. The GET for Youth report further points out that while some youth are finding employment, many are in informal jobs or temporary positions, particularly in low-income countries.
The lack of decent job growth is contributing to increasing anxiety among the youth, who are also the most educated cohort to date. ILO Director-General Gilbert F. Houngbo emphasized the importance of decent work for establishing stable, inclusive, and just societies. He noted that peaceful societies are built on the pillars of stability, inclusion, and social justice, all of which hinge on providing decent work for the youth.
The report also highlights gender disparities in the labor market recovery, with young men slightly benefiting more than young women in terms of unemployment rates. However, the NEET rates for young women are significantly higher, double that of young men.
Addressing these challenges, the ILO calls for increased efforts to create more and better jobs, especially targeting young women, and to strengthen the institutions that support young people through their labor market transitions. It stresses the need for improved international cooperation and public-private partnerships to tackle global inequalities and ensure a more socially just and inclusive world.
This year marks the 20th anniversary of the GET for Youth reports, reflecting on the progress and ongoing challenges in improving young people’s employment prospects in a world faced with crises and uncertainties. The report advocates for a continued focus on aligning skills development with market demands, particularly for green and digital skills, to reduce education mismatches and better prepare youth for the evolving labor market.