Jobless rate for young Irish higher than global average
YOUTH unemployment in Ireland far exceeds the global average, according to a report by a United Nations agency.
And joblessness in young people around the world has risen close to its record peak. This will continue to increase, wiping out recent gains, warns the UN's International Labour Organisation. It paints a grim picture for school-leavers and graduates, saying young people (between 15 and 29) are almost three times more likely than adults to be unemployed.
Globally, the rate of unemployed young people had been falling in response to the slow recovery of the world's biggest economies since hitting 12.7pc in 2009, but began to climb last year and now stands at 12.6pc, or 73 million. It is predicted to reach 12.8pc by 2018.
In Ireland it stood at a shocking 31pc in 2012, with men a third more likely than women to be jobless. Unemployment across the EU is far more severe than the global average, at 23pc, and much worse in some countries than others. In Spain, half of young people not in education are unemployed. North Africa and the Middle East also feel the problem more acutely.
A mismatch between skills and the jobs available is a "persistent and growing trend" – and this is caused by over-education as well as under-education.
"Such a mismatch makes solutions more difficult.
"Moreover, to the extent that young people in employment are actually overqualified, society is losing their valuable skills and forfeiting stronger productivity growth," the report states.