Youth unemployment ‘time bomb’ ticking in Europe says International Labour Organisation (ILO)

Youth Unemployment in Europe is a demographic time bomb

We need to get demand back into the economy  

Guy Ryder, Director General, International Labour Organisation (ILO), sayts G20 leaders need to focus on getting demand back into the global economy.

Europe faces a “demographic time bomb” as its population ages and a record amount of young people remain out of work.

Guy Ryder  “Youth unemployment is double, triple the overall levels and we need to find those jobs quickly for all sorts of reasons.”

“We need to keep our eyes firmly on the jobs issue…We have to remember that the leaders gathering here are presiding over countries where there are 93 million people without jobs and those numbers are going up despite the feeling that we’re emerging from the worst of the crisis.”

His comments come as macro-economic data improves in Europe while unemployment remains at record highs. In July, the jobless rate in the euro zone remained at 12.1 %, unchanged from the previous month.

Youth Unemployment in Europe – Among the under-25s, the rate increased to 24% from 23.9 % in June. In Spain and Greece, youth unemployment is above 50 %.

Ryder said that G20 leaders needed to “walk the walk as well as talk the talk” by directing all areas of government policy towards tackling unemployment.

“At the ILO, we think the one thing that has to be focused on is getting demand into the global economy. The fact of the matter is we don’t have enough demand — be it from public or private sources — to actually employ the people that need jobs.”

Read More Published: Thursday, 5 Sep 2013 | 2:38 AM ET By: Reporting by Steve Sedgwick, written by Holly Ellyatt ILO Thursday, 5 Sep 2013 | 2:05 AM ET

Youth Unemployment in Europe will be discussed at an upcoming conference to be held in the Gold Coast, Australia

Long-Term Unemployment Conference 2014

A national conference focusing on at risk groups for Long-Term Unemployment | Mature Age | Youth | Indigenous | Disability | Regional |

18-19 August 2014, QT Hotel Surfers Paradise

URL: www.longtermunemployment.org.au  Ph: (61 7) 5502 2068

An initiative of the Australian and New Zealand Mental Health Association

 

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