The problem with the youth unemployment

Young people face specific challenges in accessing the labour market and this lowers their chances of finding decent employment [7]. The main difficulties are:

(a) a higher chance of losing their jobs during economic downturns ("last in, first out");

(b) specific barriers to entry, often stemming from lack of experience;

(c) path dependence: early unemployment increases the likelihood of subsequent unemployment.

RESULTS AND DISCUTIONS

According to "Global employment trends for youth: 2012" published by ILO: "The global youth unemployment rate has proved sticky, and remained close to its crisis peak. At 12.6% in 2011 and projected at 12.7% in 2012, the global youth unemployment rate remains at least a full percentage point above its level in 2007. Nearly 75 million youth are unemployed around the world, an increase of more than 4 million since 2007" [1, p.11]. In many countries, this grim unemployment picture is further aggravated by the large number of youth engaged in poor quality and low paid jobs, often in the informal economy. Many youth are poor or underemployed: some 228 million working poor youth in the world, live on less than the equivalent of US$ 2 per day [2].