Bleak outlook for young jobseekers worldwide: ILO
GENEVA (AFP) - Already chilling youth unemployment figures around the world are set to worsen as the impact from the eurozone debt crisis spreads, an International Labour Organisation report said on Tuesday.
"As the euro area crisis continues in its second year, the impacts are spreading further, slowing down economies from East Asia to Latin America," the UN labour agency pointed out.
This, the organisation predicted, will contribute to a 0.2 percentage point rise in the global youth unemployment rate, from a forecasted 12.7 per cent this year to 12.9 per cent in 2017.
The hike would come even though the developed nation epicentres of the euro crisis are expected to see their devastatingly high youth unemployment figures dip slightly, ILO said. "The projected decline in youth unemployment in the developed economies region is not expected to be enough to pull the global rate downwards," it said in a statement.