The latest report from the International Labour Organization (ILO) paints a mixed picture of the global labour market outlook for young people. While there has been improvement in the last four years, with the youth unemployment rate reaching a 15-year low in 2023, there are still significant challenges that need to be addressed.
According to the Global Employment Trends for Youth 2024 (GET for Youth) report, the number of 15- to 24-year-olds who are not in employment, education, or training (NEET) remains a cause for concern. In 2023, one in five young people globally were NEET, with two in three of these NEETs being female. This highlights the need for greater efforts to provide opportunities for young people to access decent jobs.
The report also highlights the disparities in the labour market recovery between young men and young women. While young men have benefited more from the recovery, young women continue to face higher rates of unemployment and NEET. This gender gap in employment opportunities underscores the need for targeted interventions to support young women in entering and thriving in the workforce.
One of the key challenges identified in the report is the prevalence of informal employment among young workers. Globally, more than half of young workers are in informal employment, with the majority of young workers in low-income countries being self-employed or in temporary paid jobs. This lack of progress in gaining decent jobs is a major concern, as it contributes to the growing anxiety among young people about their future prospects.
In response to these challenges, the ILO report calls for greater attention to strengthening the foundations of decent work as a pathway to addressing young people’s anxieties about the world of work. This includes investing in job creation, particularly for young women, and ensuring that skills development keeps pace with the evolving demands for green and digital skills.
The report also emphasizes the importance of addressing global inequalities through improved international cooperation, public-private partnerships, and financing for development. By working together to create a more inclusive and socially just world, we can ensure that all young people have the opportunity to build a better future for themselves and their families.
As the report marks its 20-year anniversary, it serves as a reminder of the progress that has been made in improving young people’s working prospects, as well as the challenges that lie ahead. By empowering young people to advocate for change and investing in their skills and education, we can create a brighter future for all.