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(London.CityRegions.com, May 26, 2013 ) London, UK -- All across the globe, young people are giving up searching for jobs in a worldwide economy that is depriving the millennial generation of skilled workers. A report by a UN agency predicts that global youth unemployment has risen to a crisis peak will continue to rise, reaching 12.8% by 2018 if the economy doesn’t get any better.
The International Labour Office (ILO) also warned of “social unrest, particularly in the NEET group, which stands for those youth aged 15-24, that are not involved in employment, education or training, continues to rise. Young people to continue to be almost three times more likely than older adults to be unemployed and uneducated.
Increasing numbers of youth, including ones that are high school and college graduates are having to settle for part time, minimum wage jobs that have nothing to do with the education or diploma received. A growing trend that has become persistent has been over educating and skilling, as well as under educating and skilling.
To the extent that young people in employment are actually overqualified for the job they are doing, “society is losing their valuable skills and forfeiting stronger productivity growth that would have been achieved had these young people been employed at their appropriate level of qualification," the ILO’s report from the Global Employment Trends for Youth said.
The Neet group is a significant problem for the UK especially. A separate report back in March said lack of computer skills could be hindering and damaging career choices, after 1 in 10 Briton students said they did not find their computer skills to be good enough for the job they want.
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Source: EmailWire.Com
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