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.
Read it all.
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
Posted September 4, 2012 at 4:34 pm
To comment on this article: Go to Article ViewThe URL for this article is http://www.kendallharmon.net/t19/index.php/t19/article/44777/
© 2013 Kendall S. Harmon. All rights reserved.
For original material from Titusonenine (such as articles and commentary by Dr. Harmon) permission to copy and distribute free of charge is granted, provided this notice, the logo, and the web site address are visible on all copies. For permission for use in for-profit publications, please email KSHarmon[at]mindspring[dot]com
<< Return to Mobile view (headlines)