In a time of disturbing economic instability global unemployment scores a record increase according to a report by the UN. Young people will be most affected in what appears to be the return of the financial crisis, with the estimated 5.1 million more unemployed people in 2013.
In 2012 there was a rise from the previous year in the joblessness of 4.2 million, or around 197 people were unemployed. The slow rates of investment and hiring observed in 2012 were partly caused by the countries’ incapacity to consider unemployment a factor, according to Guy Ryder, director-general of UN agency, the International Labor Organization (ILO) which released the report. He accused countries of being too slow in reacting to the increasing unemployment, and as a result countries with dynamic labor markets were now also in a job crisis. Ryder also said that the statistics in the report can’t even reveal the real magnitude of the problem.
According to the annual report on global unemployment, released on Tuesday, around 40 million people became jobless solely due to the rising gloomy perspective. Another important point was that one of the worst job markets was the European, and that domestic politics couldn’t solve the problem on their own. What is more worrying – young people are becoming more unqualified and mostly, inexperienced because they can’t even find their first job after graduating. The UN report says that such a vicious circle has never been observed in the past, and that appears to be a dramatic long-term impact on the future of the labor market for the youngest population.
73.8 million youngsters aged between 15 and 24 are unemployed worldwide and by 2014 another half million are expected to join the unfortunate statistics because of the slow economic activity. But for the UN agency another factor is the most disturbing – the long-term unemployment of young people which depraves them of essential skills and experience. According to them, 35 percent of the jobless youth is in this condition for more than six months. ILO expects that regions like Eastern Europe, the Middle East, and East and South-East Asia will face an increasing wave of unemployment among the young in the future years.
