Condemning the young to irrelevance

Nothing, but nothing, proves that the folks who are currently calling the economic shots are bug-eyed, batshit insane like the current unemployment among the world's young people.  Even the Leisure Classes believe young people should work!  And if the ILO is correct, the situation is about to get worse.

Youth joblessness near crisis peak

By Agence France-Presse
Tuesday, May 22, 2012

Youth joblessness is almost back at its peak following the outbreak of the global economic crisis and is unlikely to ease until at least 2016, the International Labour Organization warned Tuesday.

The ILO said nearly 75 million youths or 12.7 percent of people aged 15 to 24 will be out of work this year, up from 12.6 percent in 2011.

The jobless total is creeping towards the 75.4 million unemployed in 2009 when the financial crisis caused the number to soar.

The picture is more gloomy if the millions who have put off or given up looking for a job are included: this would put the 2011 figure at 13.6 percent.

Youths opting to prolong their education will meanwhile enter the labour market in the coming years, putting continued pressure on the jobless rate.

“By 2016, the youth unemployment rate is projected to remain at the same high level,” said the ILO.

In its Global Employment Trends for Youth report, the body suggests offering tax and other incentives to businesses hiring young people and more entrepreneurship programmes to help youths kick-start a career.

“The youth unemployment crisis can be beaten but only if job creation for young people becomes a key priority in policy-making and private sector investment picks up significantly,” said executive director of the ILO’s employment sector, Jose Manuel Salazar-Xirinachs. more