Accessibility links

Recessions in Russia, Emerging Markets Push Up Youth Unemployment

Recessions in Russia, Brazil, Kazakhstan, and other emerging markets hit by low commodity prices is helping to push the world's youth unemployment rate up, the International Labor Organization reported.

After several years of improvement, the global jobless rate among 15 to 24-year-olds will rise to 13.1 per cent this year from 12.9 per cent in 2015, the United Nations labor group estimated on August 24.

The number of unemployed young people will increase by 500,000 to 71 million worldwide, it said.

Emerging economies like Russia, Kazakhstan, and Brazil will see a sharp rise in youth joblessness from 13.3 per cent last year to 13.7 per cent in 2017, it said.

Even young people who are working face serious problems, it said.

"Large numbers of young people are working, but do not earn enough to lift themselves out of poverty," it said.

The group said the problems with youth unemployment and poverty have been feeding migration from poor to rich countries.

It said a 1 percent rise in youth poverty in developing countries leads to a 0.5-per-cent rise in young people willing to emigrate to seek a better future.

Based on reporting by AFP and dpa