ILO warns on global youth unemployment

May 08, 2013, 8:36 AM EDT
(L-R) German Ramos, 24 years-old from Sevilla, Tania Sanchez, 25 years-old from Sevilla, Judit Herrera, 27 years-old from Madrid and Rosa Gonzalez, 21 years-old from Granada, work together making a video to introduce them selves to their future employers.
Getty Images/Jasper Juinen

The International Labour Organization said the global youth unemployment rate will hit 12.6% this year and rise to 12.8% by 2018, putting a generation at risk of lasting damage to their job prospects. In the rich countries and E.U., the UN agency says, youth unemployment won't drop below 17% before 2016. The ILO says the crisis is worse than the data suggest because long-term unemployment is growing for 15–24 year olds along with part-time and temporary jobs, and that young people are almost three times more likely as older adults to be out of work.