Youth unemployment getting worse, says ILOListen /
Young people are going to continue to face difficulties in finding jobs, according to the International Labour Organization (ILO).
In a paper published on Tuesday, the ILO says the spillover of the euro crisis is spreading as far afield as East Asia and Latin America.
Ekkehard Ernst is Head of the ILO Global Employment Trends Unit and lead author of the report.
"We had in January actually projected that youth unemployment would actually gradually fall over the next four five six years. What we currently see is in light of this deterioration of economic conditions is that the world youth unemployment rate will continue to increase. It's currently estimated to lie around 12.7 per cent for this year and is going to increase to 12.9 per cent over the next five years." (Duration: 24")
Mr. Ernst says that ironically in the developed countries where the crisis started, youth unemployment has now started to decline.
He stresses that this is not caused by an increase in job vacancies but because young people have left the labour force.