More than four years from the onset of the COVID-19 pandemic, the global labour market outlook has improved considerably for young people aged 15 to 24, according to the International Labour Organization (ILO).

In its latest Global Employment Trends for Youth 2024 report, the ILO said that the 2023 youth unemployment rate, at 13 per cent, equivalent to 64.9 million people, represents a 15-year low and a fall from the pre-pandemic rate of 13.8 per cent in 2019. It is expected to fall further to 12.8 per cent this year and the next.

Uneven Recovery Across Regions

Despite the overall positive global trend, the ILO report highlights significant disparities across regions. While many areas have seen a decrease in youth unemployment, regions such as the Arab States, East Asia, and South-East Asia and the Pacific have experienced higher unemployment rates in 2023 compared to 2019. This uneven recovery underscores the persistent challenges young people face in different parts of the world.

Matter of Concern

The report also raises concerns about the number of young people who are not in employment, education, or training (NEET). In 2023, 256 million young people globally fell into this category, representing 20.4% of the youth population. The situation is particularly dire in regions like the Arab States and North Africa, where NEET rates are alarmingly high, with one in three young people being NEET.

The lack of decent work opportunities remains a significant barrier to youth employment. The report notes that over half of young workers worldwide are engaged in informal employment, with only those in high- and upper-middle-income economies enjoying regular, secure jobs. This reality contributes to growing anxiety among today’s youth, who, despite being the most educated generation in history, still face considerable obstacles in the labor market.

Gender Disparities in Employment

Gender disparities also persist, with young women facing more significant challenges in securing employment. While the global youth unemployment rate has decreased, the report indicates that the rate for young men has fallen more sharply than for young women. In 2023, the unemployment rate for young women was 12.9%, compared to 13% for young men. This shift reflects a narrowing of the gender gap in youth unemployment but also highlights the ongoing disadvantage faced by young women in the labor market.

Outlook for 2024 and Beyond

Looking ahead, the ILO projects a slight increase in global youth employment by 2025, with 2.9 million additional young people expected to find jobs. However, challenges remain, particularly in regions where youth population growth outpaces employment opportunities. The global youth unemployment rate is expected to decline further to 12.8% by 2025, with the most significant improvements anticipated in Central and Western Asia and Eastern Europe.

Despite these positive trends, the ILO cautions that much work remains to be done to ensure that all young people, regardless of gender or geographic location, have access to decent work opportunities. As ILO Director-General Gilbert F. Houngbo stated, “None of us can look forward to a stable future when millions of young people around the world do not have decent work and, as a result, are feeling insecure and unable to build a better life for themselves and their families.”

Challenges and Path Forward

While the global youth unemployment rate has reached a 15-year low, the ILO’s report highlights the uneven recovery and persistent challenges faced by young people in different regions. The high NEET rates and gender disparities in employment underscore the need for continued efforts to create inclusive and equitable labor markets that offer decent work opportunities for all young people.

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