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Jobless youths at highest level

YOUTH unemployment worldwide is now at the highest level since before the downturn, research has found.

School leavers and graduates are almost three times more likely to be currently without a job than adults, the new research has shown.

The International Labour Office (ILO) predicts youth unemployment to rise from 12.6pc this year to 12.8pc in 2018.

The damning report, Global Employment Trends for Youth 2013, said that many young people are giving up on the search for a job.

"The weakening of the global recovery in 2012 and 2013 has further aggravated the youth jobs crisis and the queues for available jobs have become longer and longer for some unfortunate jobseekers," it said.

Informal employment among young people remains pervasive and skills mismatch on youth labour markets has become a "persistent and growing trend" with both overeducation and over-skilling as well as undereducation and under-skilling.

"Such a mismatch makes solutions to the youth employment crisis more difficult to find and more time consuming to implement," the report said.

"Moreover, 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."