Carlos Giraldo is a Colombian student of Systems Engineering and, although he wants to graduate and get a job, he says that “it is difficult” because the requirements currently asked of young people are very strict to be able to work.
Carlos’s is increasingly a common reality among the young population of Latin America, according to a recent study.
“Currently, I see that it is a very used alternative, that of the Rappi, people who make trips in their own vehicles. I see that it is an easier alternative than entering formal employment,” said the boy in conversation with the Voice of America.
A study released on Friday by the Economic Commission for Latin America and the Caribbean (ECLAC) and the organization Ayuda en Acción points out that, on average, young people in Latin America have higher unemployment rates than adults.
In 2022, the unemployment rate for young people between 15 and 24 years of age was recorded at 17.2%, while among those between 25 and 34 it was 7.8%, between 35 and 44 it was 5.1%. and for those 35 or older it was 4.0%.
The duration of unemployment “has increased in recent years and, in general, young women take longer than their male counterparts to find work.”
More time unemployed
In 2012, 79% of young women took less than six months to find employment, a figure that decreased almost seven percentage points in 2022, mainly due to the increase in unemployment lasting more than 12 months.
In the case of young men, 84% took less than six months to find employment in 2012, falling four points in 2022. The increase in unemployment lasting more than 12 months increased three percentage points.
As Andrés Espejo, Economic Affairs Officer of ECLAC explained to the VOA, “young women are the most educated, but even so, when one sees the participation rates in the labor market and the type of jobs they can access, they are always much more precarious and have higher rates of unemployment or people outside the market who are women”.
On the other hand, in Latin America, one in four young people between 18 and 24 years old does not study or work for pay and, among them, more than 70% are women dedicated exclusively to taking care of the home.
The findings also indicate that 20% of young people between 15 and 29 years of age receive labor income less than the poverty line, and 30% earn less than the national minimum wage.
Changes in 2030
The study also found that 70% of employed youth in Latin America in 2030 will work in the service sector and companies.
The results indicate that, in 16 countries in the region, more than 12 million would leave the agricultural sector, nearly 640,000 would leave the manufacturing sector and more than 1.8 million would then enter the services sector which, according to ECLAC, is characterized by low labor productivity levels.
For Espejo, “it is not that the service sector alone is worrying, but rather that, if young people continue to see it as an opportunity to be able to enter that sector at some point, they will increase the precariousness of that sector.”
Find the future
María Isabel Cerón, director of institutional affairs for Ayuda en Acción of Colombia, told the VOA that in the commercial sector “working conditions are not as decent or as stable as in other sectors” and the region must “ensure that these young people find their future and generate development in the rural areas that need it so much.”
The numbers could even increase due to the intensification of displacement due to climate change and the configuration of migration between regions. That is, natural phenomena could force young people to move to cities in search of opportunities. It is estimated that, in 2050, if the necessary measures are not implemented, the region could experience a loss of close to 43 million jobs.
It is also forecast that the economic costs of climate change in the region, in that year, could represent between 1.5% and 5% of regional GDP.
Both ECLAC and Ayuda en Acción point out that the study aims to be a contribution to future changes and recommend implementing programs aimed at reducing the rate of labor informality, generating quality jobs and social protection. In addition, it is positive to help reduce gender gaps, strengthen labor information systems and invest in education and training.
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