Feb. 19, 2022

Global Youth Unemployment - The Numbers

Global Youth Unemployment - The Numbers

The Problem:

Youth unemployment is a global problem which creates tremendous impact on individuals as well as on the current and future well-being of the planet. Esports is a new, growing global industry which can generate local youth-focused jobs, requiring little formal education using an established framework. The Gamers Change Lives Podcast wants to jump start this activity by identifying entrepreneurs around the world and telling their stories. Global connectivity makes this possible. All by playing games. What could be better than that!

Problem: Global Youth Unemployment

According to Mercy Corps, over the next decade, the World Bank estimates one billion young people will try to enter the job market, but less than half of them will find formal jobs. This will leave the majority of young people, many in minority and marginalized groups, unemployed or experiencing working poverty. The predicted rise in economic inequality and inadequate job opportunities has the potential to negatively impact a generation of young people around the world.

With more than 64 million unemployed youth worldwide and 145 million young workers living in poverty, youth employment remains a global challenge. International Labor Organization, a specialized agency of the United Nations

From the World Bank, the Unemployment, Youth Total as a % of Total Labor Force ages 15-24 highlight the regional disparities:

Region

2016

2017

2018

2019

Caribbean small states

25.84%

23.88%

22.20%

20.51%

Central Europe and the Baltics

17.66%

14.96%

12.66%

11.64%

East Asia & Pacific

10.14%

9.91%

9.76%

9.87%

Europe & Central Asia

19.10%

17.85%

16.84%

16.56%

Latin America & Caribbean

17.22%

17.61%

17.58%

17.75%

Middle East & North Africa

26.97%

27.45%

25.95%

25.70%

North America

10.58%

9.37%

8.76%

8.55%

Other small states

23.13%

22.49%

21.84%

21.59%

Pacific island small states

9.11%

8.99%

8.86%

8.72%

South Asia

19.18%

19.38%

19.52%

19.60%

Sub-Saharan Africa

11.78%

11.86%

12.06%

12.44%

World

15.45%

15.37%

15.20%

15.29%

The United Nations International Labour Organization reports that new technologies present both risks and opportunities in the creation of decent jobs for young people.

Technological change is one of the most disruptive drivers of the future world of work. It generates new jobs, increases the productivity of firms and workers, and enhances the ability of governments to implement policies. At the same time, it leads to the loss and/or transformation of jobs and can have an impact on inequality among different groups of workers and countries.

To underscore the importance of addressing youth unemployment,  UNCTAD demographics show that younger people make up a much larger proportion of total population in developing countries:

Population by age class, 2019

Group of economies

 

Percentage of total

Population
Millions

All age
classes

0-14

15-24

25-39

40-64

65-74

75+

World

7713

100.0

25.6

15.6

22.4

27.2

5.7

3.4

Developing economies

6338

100.0

27.4

16.5

22.9

26.0

4.8

2.4

Developing economies: Africa

1307

100.0

40.6

19.3

20.5

16.2

2.4

1.0

Developing economies: America

644

100.0

24.3

16.7

23.4

27.0

5.3

3.4

Developing economies: Asia and Oceania

4387

100.0

23.9

15.7

23.5

28.7

5.4

2.6

Transition economies

311

100.0

20.7

11.2

23.7

31.5

7.6

5.1

Developed economies

1065

100.0

16.3

11.4

19.4

33.3

10.6

9.0

The good news.

New technologies can be used to promote youth entrepreneurship and self-employment.

Technology-based solutions can help young people realize their entrepreneurial aspirations by facilitating access to markets and market information, and by enabling them to acquire financial, entrepreneurial, and digital literacy skills (e.g., through online courses and coaching, mobile learning apps and digital training materials). Access to finance for young entrepreneurs can be enhanced through mobile and crowdfunding channels, and electronic and mobile payment methods can be used to support the formalization of new businesses.

This technology includes gaming, and more specifically, esports.

Photo by Hajran Pambudi on Unsplash