European youth are in danger of becoming a ‘lost generation’, according to a new report of the International Labor Organization.
Specifically, the study expresses concern that the number of unemployed youngsters who have given up their job search is growing.
It also notes that in the European Youth increasingly hold part-time and temporary jobs - more so than their older counterparts do. The study reveals that between 2008 and 2011, the share of young temporary employees rose by 2.7 percentage points. But for adults it remained unchanged. Experts warn that all of this has long-term consequences.
In the EU, young people have been hit the hardest on the labor market amid record-high unemployment levels. The bloc’s average rate of youth joblessness is over 20 percent, but in countries like Greece and Spain it is about 50 percent. Analysts say the implications of this go beyond career prospects.
Observers point out that high youth unemployment actually affects the entire society. For example, jobless young people do not contribute social security revenue, which forces governments to spend more.
So what does the future hold? The International Labor Organization predicts that the situation for young people will remain the same until 2016. The organization urges governments to make youth employment a priority because the current measures are extremely inadequate.