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Unfortunately, one year on, we have to report that the situation per young people in the
labour market has not gotten better. In fact with the economic crisis proving to be much
more deep rooted than initially thought, it is unlikely that the situation in the youth
labour market is going to improve any time soon.
We have the youth in the developed economies which were hit particularly hard by the economic
crisis. Here, the youth unemployment rate and the youth unemployment number in 2010
were higher than ever before measured.
At the same time, the youth unemployment rate between 2009 and 2010 continued to increase,
this makes the region unique.
Another distinct group of young people in developing economies, here we have a very
different situation because very few young people can afford to be unemployed. So the
youth unemployment rate is not the indicator to focus on here. Rather we talk about working
poverty, we talk about vulnerable employment. Most young people take up whatever work is
available to them, often time very poor working conditions and at poverty wages.
Part-time employment for example has sky-rocketed in recent years. Now part-time employment
in itself is not necessarily a negative thing especially when young people are combining
work and studies. However the recent magnitude of the increase hints at the fact that part-time
employment has been taken up as an involuntary action. Many young people are finding that
they can only find part-time and temporary employment.
Sustained investments in young people are what we need now more than ever. Long-term
investment in the education and training system for example; Creative fiscal policy that will
subsidize youth employment; these are some of the examples of the solutions that are
being called for. Unfortunately, they are being called for at a time when governments
have very little fiscal space to respond to such action. Fortunately, we have other players
that can now step in where governments cannot. Many non-state actors, trade unions, workers’
organisations, private enterprises for example are now playing more of an active role to
promote youth employment. Private organisations are now recognizing investing in youth makes
perfect business sense.
The long-term unemployment rate is the measure of the share of the unemployed who have been
looking for work for 12 months or longer. And what we see now is that the youth long-term
unemployment rate is surpassing the adult long-term unemployment rate by far. This is
a strong confirmation of the standard view that during the economic crisis and recoveries
it will take the youth labour market longer to recover.
I know that it’s not easy for young people but we should encourage our young people to
not become discouraged, to keep themselves active. It doesn’t have to be in the labour
market it can in an organization, they can volunteer; they can come together, through
social networks, something that’s keeping them engaged. Because it’s the lack of engagement
that can create a sense of social discontent, a sense of detachment. So, keep positive,
keep engaged and push for a better future.