Euro-zone youth unemployment will remain elevated for at least the next half-decade, the International Labor Organization said Tuesday, forecasting a small reduction in the jobless rate will come from young people withdrawing from the labor market instead of stronger hiring activity.

The Geneva-based agency of the United Nations projects that 15-to-24 year-olds in the 17-member economic bloc will face jobless rates of nearly 22% in 2013 that will dip modestly to 21.4% in 2017. In the U.S., youth unemployment is forecast to fall from 17.4% this year to 13.3% in 2017.

Long-term youth unemployment has long-term consequences for young people and for businesses, according to the ILO and other labor market experts.

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Filed under: * Culture-Watch • Young Adults • * Economics, Politics • Economy • Labor/Labor Unions/Labor Market • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • * International News & Commentary • Europe • --European Sovereign Debt Crisis of 2010

1. Teatime2 wrote: I’d love to know how the U.S. rate of unemployment in that age bracket will fall 4 percent when Obama just signed off on work permits for 1.7 million illegal immigrant youth. September 4, 6:28 pm | [comment link]

2. Cennydd13 wrote: We haven’t seen any signs of that happening in California’s Merced County, where my wife and I live.  Our unemployment rate among people in this age group averages 22.5%, and it’s not getting any better. September 4, 8:07 pm | [comment link]

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