Globally, youth unemployment reached a 15-year low last year, and this trend is expected to continue through 2025. However, Asia is trailing behind in this regard due to sluggish economic growth. This information was reported today by the International Labor Organization (ILO) in their latest report.
The ILO reported that last year, 64.9 million young people aged 15 to 24 were unemployed worldwide, resulting in an unemployment rate of 13 percent. This rate is projected to decrease slightly to 12.8 percent over the next two years.
The United Nations' specialized agency notes that global economic growth has surged significantly since the COVID-19 pandemic, leading to a substantial increase in demand for young workers. This shift has played a key role in reducing youth unemployment rates.
In 2023, youth unemployment returned to, or even fell below, pre-pandemic levels in many areas. However, this trend is not uniform across all sub-regions.
According to the ILO report, youth unemployment rates last year remained higher in Arab countries, East Asia, Southeast Asia, and the Pacific compared to 2019.
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