The International Labour Organisation (ILO) recently released its Global Employment Trends for Youth 2024 report, which highlighted the challenges faced by young adults in finding secure paid jobs, particularly in low-income countries. According to the report, only one in five young adults aged 25 to 29 in these countries manage to secure a job with a paying employer and a contract lasting more than one year. This disparity in job opportunities based on income level is a concerning trend that affects the economic prospects of young people worldwide.
The report also pointed out that the number of 15- to 24-year-olds who are not in employment, education, or training is alarmingly high, indicating a lack of opportunities for young people to enter the workforce. The post-COVID-19 pandemic employment recovery has not been uniform, with certain regions and many young women not benefiting from the economic recovery. This disparity in job prospects is a cause for concern as it hinders the overall economic growth and stability of these countries.
In Asia and the Pacific region, the youth unemployment rate was at 13.9% in 2023, reflecting a full recovery from the crisis years but with varying trends across subregions. While South Asia showed positive signals of declining youth unemployment and rising employment ratios, East Asia experienced a historical high youth unemployment rate of 14.5% in 2023. The job situation for youth in South-East Asia and the Pacific fell somewhere in between, highlighting the diverse challenges faced by young people in different parts of the region.
One of the key findings of the report was the gender disparity in job opportunities, with young men having greater success in finding work compared to young women. The youth unemployment rate for young women remained slightly higher than pre-crisis levels in 2023, while the rate for young men had decreased. This gender gap in employment opportunities is a significant issue that needs to be addressed to ensure equal access to decent work for all young people.
The report also highlighted the high rate of youth not in employment, education, or training in the Asia-Pacific region, particularly among young women in South Asia. Despite a decline in this rate from 2019, the region still has a significant number of youth who are not actively engaged in education or employment. This lack of opportunities for young people, especially young women, hinders their ability to build a better future for themselves and their families.
In conclusion, the ILO report underscores the importance of providing equal opportunities for young people to access education and decent jobs. Without these opportunities, millions of young people are at risk of missing out on their chances for a better future. Addressing the disparities in job prospects based on income level, gender, and region is crucial for creating a more inclusive and stable society where all young people have the opportunity to thrive.