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Youth unemployment also dramatically increases public spending at times when economies are struggling to remain competitive and social benefits increase along with an aging population. Youth unemployment has direct costs such as increased benefit payments, lost income-tax revenues and wasted capacity. [95] "
Youth unemployment worldwide last year dipped to a 15-year-low and is likely to continue falling through 2025, although weaker growth means Asia has lagged this trend, the International Labour ...
Disconnected youth is a label in United States public policy debate for NEETs, a British term referring to young people "Not in Education, Employment, or Training". Measure of America's July 2021 report says disconnected youth (defined as aged 16 to 24) number 4.1 million in the United States, about one in nine of the age cohort. [1]
At the community level, local levels of incarceration have been found to have negative spillover effects on local labor markets (particularly in urban areas with higher proportions of Black residents), suggesting that carceral institutions can have indirect dampening effects on local employment. [115]
Urban youth unemployment for the roughly 100 million Chinese aged 16-24 spiked to 17.1% in July, a figure analysts say masks millions of rural unemployed.
In Japan and South Korea, youth unemployment rates were at historic lows. The U.S. Bureau of Labor Statistics reported that youth unemployment in July was 9.8%, up from 8.7% the same period last year.
In the European Union, where a debt crisis followed the financial crisis, the youth unemployment rate rose to 18% last year from 12.5% in 2007, the ILO report shows." [178] In March 2018, according to US Unemployment Rate Statistics, the unemployment rate was 4.1%, below the 4.5–5.0% norm. [179]
One year on, youth unemployment remains a headache, with the reconfigured jobless rate spiking to a 2024 high of 17.1% in July, as 11.79 million college students graduated this summer in an ...