ILO Report Highlights Challenges for Youth Employment Globally

On 12th August, 2024, the International Labour Organisation's (ILO) Global Employment Trends for Youth 2024 report revealed a troubling global youth employment scenario, with job security and access to opportunities heavily influenced by a country’s income level.

Key Points

Employment Challenges: The ILO report indicates that young people globally face significant employment challenges, with job security diminishing as the income level of their country decreases.
Secure Employment Statistics: In low-income countries, only 20% of young adults aged 25 to 29 secure stable, long-term paid jobs.
Conversely, high-income countries see a much higher rate of secure employment at 76%, though temporary work is on the rise globally, adding to concerns over job stability.
Regional Variations: Youth unemployment in Asia and the Pacific was 13.9% in 2023, showing recovery from previous crises but varying by subregion.
South Asia shows improvement, while East Asia faces a historic high in youth unemployment at 14.5%. Southeast Asia and the Pacific are experiencing mixed trends.
Gender Disparities: Young men have generally fared better than young women in job recovery, with a higher unemployment rate for young women (13.4%) compared to their male counterparts.
Future Projections: The ILO projects a slight increase in the NEET rate in South Asia to 20.5% by 2025, despite a declining unemployment rate.
Structural imbalances persist, with a growing proportion of young workers in temporary positions and the agricultural sector remaining a major employer in South Asia.