The number of young unemployed across the world has soared to a record high and is likely to climb further this year, a United Nations agency reported Thursday, amid a U.S. government report that that jobless claims in America jumped to five-month high.
The International Labor Organization said in its 2010 report that out of 620 million youths ages 15 to 24 in the global work force, 81 million were unemployed at the end of 2009, and warned of a ‚Äúlost generation‚ÄĚ as more youths lose hope of finding work.
The youth unemployment rate increased from 11.9 percent in 2007 to 13.0 percent in 2009, the report said.
According to International Labor Organization projections, the global youth unemployment rate is expected to continue its increase through 2010, to 13.1 percent, followed by a moderate decline to 12.7 percent in 2011.
The report found that unemployment has hit youths harder than adults during the financial crisis and ‚Äúthat the recovery of the job market for young men and women is likely to lag behind that of adults.‚ÄĚ
Unemployment can have a long-term negative effect on young people and can be costly for governments, the report said. ‚ÄúThe crisis is an opportunity to re-assess strategies for addressing the serious disadvantages that young people face as they enter the labor market,‚ÄĚ it said.
The report also estimated that 152 million young people, or about 28 percent of all the young workers in the world, worked but remained in extreme poverty in households surviving on less than $1.25 (in U.S. dollars) per person per day in 2008.
‚ÄúThe result is that the number of young people stuck in working poverty grows and the cycle of working poverty persists through at least another generation,‚ÄĚ said Juan Somavia, director-general of the International Labor Organization.