Youth unemployment in Latin America is expected to reach 20.5% in 2022

A report of the International Labor Organization (ILO) points out that the youth unemployment rate in Latin America remains very high, and is expected to reach 20.5% in 2022, in part because the COVID-19 pandemic it has affected young people more than any other age group, according to data presented Thursday.

Martha Newton, ILO Deputy Director-General for Policy, noted that “the COVID-19 crisis has exposed a number of shortcomings in how we address the needs of young people, particularly those of the most vulnerable, such as the first-time job seekers, school dropouts, recent graduates with little experience, and those who remain inactive by no choice”.

“The pandemic has exacerbated the many challenges faced by young people aged 15 to 24 in the labor market, suffering since the beginning of 2020 a much higher percentage loss of employment than that of adults,” the report adds.

The text also points out that by 2022 there are expected to be 73 million unemployed young people worldwide, “which constitutes a slight improvement over the value recorded in 2021 (75 million), although there are still six million more unemployed young people than before the 2019 pandemic,” according to the report.

Another finding indicates thatWomen are more affected than men and it is expected that next year 40.3% of young men will have a job, compared to 27.4% of young women.

According to the ILO, “the situation is very different in North America, where the youth unemployment rate is expected to reach 8.3%, which is lower than the world average.”

At a global level, the ILO estimates that youth unemployment will reach 14.9% this year, reflecting a slight improvement in the situation compared to last year, but without ever recovering pre-pandemic levels.

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