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Report – Global spill-overs from advanced to emerging economies worsen the situation for young jobseekers

News release: “Jobless rates among young people will get even worse globally as the spillover of the euro crisis spreads from advanced to emerging economies, according to an International Labour Organization paper titled Global Employment Outlook: Bleak Labour Market Prospects for Youth…The new forecasts show the youth unemployment rate in developed economies dropping gradually, from 17.5 per cent this year to 15.6 per cent in 2017. This is still far higher than the rate of 12.5 per cent registered in 2007, before the crisis struck. Much of this decline in the jobless rate is not due to improvements in the labour market, but rather to large numbers of young people dropping out of the labour force altogether due to discouragement. These discouraged youth are not counted among the unemployed.”

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