{"id":1425829,"date":"2023-09-02T23:00:00","date_gmt":"2023-09-03T03:00:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1425829"},"modified":"2023-09-02T23:00:00","modified_gmt":"2023-09-03T03:00:00","slug":"civil-unrest-fears-grow-as-youth-unemployment-accelerates","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/civil-unrest-fears-grow-as-youth-unemployment-accelerates\/1425829\/","title":{"rendered":"Civil Unrest Fears Grow As Youth Unemployment Accelerates"},"content":{"rendered":"

Civil Unrest Fears Grow As Youth Unemployment Accelerates<\/span><\/p>\n

\n

In nearly every country in the world, youth unemployment is much higher than general unemployment.<\/strong><\/p>\n

Unfortunately, the\u00a0pandemic<\/a>\u00a0only exacerbated matters. During a crucial stretch of their early careers, young adults were locked out of entry-level jobs, destroying their ability to pick up work experience and potentially impacting their long-term earnings.<\/p>\n

Now, nearly three years after COVID-19 first hit, young adults from some countries, like China, are struggling to find jobs. Using data from the\u00a0OECD<\/a>\u00a0and the\u00a0National Bureau of Statistics of China<\/a>, Visual Capitalist’s Pallavi Rao and Niccolo Conte <\/a>chart out the youth unemployment rate for 37 countries.<\/p>\n

<\/a><\/p>\n

Ranked: Countries With the Highest Youth Unemployment<\/h2>\n

At the top of the list,\u00a0Spain<\/strong>\u00a0has the highest youth unemployment in the OECD, with nearly one in three young adults unable to find a job.<\/p>\n

\u2139\ufe0f\u00a0Unemployed people<\/strong>\u00a0are those who report that they are without work, are available for work, and have taken active steps to find work in the last four weeks. The\u00a0youth unemployment rate<\/strong>\u00a0is calculated as a percentage of the youth labor force.<\/p>\n

A mismatch between educational qualifications and the labor market has been cited as a significant reason for Spain\u2019s lack of\u00a0employed adults<\/a>\u00a0between the ages of 15\u201324.<\/p>\n

Meanwhile, the country\u2019s reliance on temporary contracts and dependence on seasonal sectors\u2014like tourism\u2014to generate jobs are some of the many reasons for its persistently high reported unemployment across demographic groups.<\/p>\n

Listed below is the youth unemployment rate for all the OECD countries, and China, as of the second quarter of 2023.<\/p>\n

Rank
\n\t\t\tCountry
\n\t\t\tAverage Youth
\n\t\t\tUnemployment Rate
\n\t\t1
\n\t\t\t\ud83c\uddea\ud83c\uddf8 Spain
\n\t\t\t27.4%
\n\t\t2
\n\t\t\t\ud83c\udde8\ud83c\uddf7 Costa Rica
\n\t\t\t27.1%
\n\t\t3
\n\t\t\t\ud83c\uddf8\ud83c\uddea Sweden
\n\t\t\t24.9%
\n\t\t4
\n\t\t\t\ud83c\uddec\ud83c\uddf7 Greece
\n\t\t\t23.6%
\n\t\t5
\n\t\t\t\ud83c\udde8\ud83c\uddf3 China
\n\t\t\t21.3%
\n\t\t6
\n\t\t\t\ud83c\uddee\ud83c\uddf9 Italy
\n\t\t\t21.3%
\n\t\t7
\n\t\t\t\ud83c\udde8\ud83c\uddf1 Chile
\n\t\t\t19.8%
\n\t\t8
\n\t\t\t\ud83c\uddf1\ud83c\uddfa Luxembourg
\n\t\t\t19.6%
\n\t\t9
\n\t\t\t\ud83c\uddf8\ud83c\uddf0 Slovakia
\n\t\t\t18.8%
\n\t\t10
\n\t\t\t\ud83c\udde8\ud83c\uddf4 Colombia
\n\t\t\t18.7%
\n\t\t11
\n\t\t\t\ud83c\uddf5\ud83c\uddf9 Portugal
\n\t\t\t17.2%
\n\t\t12
\n\t\t\t\ud83c\uddf9\ud83c\uddf7 T\u00fcrkiye
\n\t\t\t17.0%
\n\t\t13
\n\t\t\t\ud83c\uddeb\ud83c\uddf7 France
\n\t\t\t16.9%
\n\t\t14
\n\t\t\t\ud83c\uddeb\ud83c\uddee Finland
\n\t\t\t15.8%
\n\t\t15
\n\t\t\t\ud83c\uddea\ud83c\uddea Estonia
\n\t\t\t15.6%
\n\t\t16
\n\t\t\t\ud83c\udde7\ud83c\uddea Belgium
\n\t\t\t13.9%
\n\t\t17
\n\t\t\t\ud83c\uddf1\ud83c\uddf9 Lithuania
\n\t\t\t13.8%
\n\t\t18
\n\t\t\t\ud83c\udde8\ud83c\uddff Czech Republic
\n\t\t\t13.7%
\n\t\t19
\n\t\t\t\ud83c\udded\ud83c\uddfa Hungary
\n\t\t\t13.3%
\n\t\t20
\n\t\t\t\ud83c\uddec\ud83c\udde7 United Kingdom
\n\t\t\t11.4%
\n\t\t21
\n\t\t\t\ud83c\uddf1\ud83c\uddfb Latvia
\n\t\t\t11.0%
\n\t\t22
\n\t\t\t\ud83c\uddf5\ud83c\uddf1 Poland
\n\t\t\t10.3%
\n\t\t23
\n\t\t\t\ud83c\uddf3\ud83c\uddf4 Norway
\n\t\t\t10.2%
\n\t\t24
\n\t\t\t\ud83c\udde8\ud83c\udde6 Canada
\n\t\t\t10.2%
\n\t\t25
\n\t\t\t\ud83c\udde6\ud83c\uddf9 Austria
\n\t\t\t9.6%
\n\t\t26
\n\t\t\t\ud83c\udde9\ud83c\uddf0 Denmark
\n\t\t\t9.3%
\n\t\t27
\n\t\t\t\ud83c\uddf3\ud83c\uddf1 Netherlands
\n\t\t\t8.3%
\n\t\t28
\n\t\t\t\ud83c\uddfa\ud83c\uddf8 United States
\n\t\t\t8.0%
\n\t\t29
\n\t\t\t\ud83c\udde6\ud83c\uddfa Australia
\n\t\t\t7.8%
\n\t\t30
\n\t\t\t\ud83c\uddee\ud83c\uddea Ireland
\n\t\t\t7.4%
\n\t\t31
\n\t\t\t\ud83c\uddee\ud83c\uddf8 Iceland
\n\t\t\t7.3%
\n\t\t32
\n\t\t\t\ud83c\udde9\ud83c\uddea Germany
\n\t\t\t6.1%
\n\t\t33
\n\t\t\t\ud83c\uddf8\ud83c\uddee Slovenia
\n\t\t\t5.6%
\n\t\t34
\n\t\t\t\ud83c\uddf0\ud83c\uddf7 Korea
\n\t\t\t5.4%
\n\t\t35
\n\t\t\t\ud83c\uddee\ud83c\uddf1 Israel
\n\t\t\t5.3%
\n\t\t36
\n\t\t\t\ud83c\uddf2\ud83c\uddfd Mexico
\n\t\t\t5.2%
\n\t\t37
\n\t\t\t\ud83c\uddef\ud83c\uddf5 Japan
\n\t\t\t4.2%<\/p>\n

Announced in June,\u00a0China\u2019s<\/strong>\u00a0youth unemployment rate has climbed to 21.3%, a meteoric rise since May 2018, when it was below 10%. The\u00a0Chinese economy<\/a>\u00a0is in the midst of a slowdown and its steadily climbing youth unemployment prompted the government to suspend age-specific unemployment data for the near future.<\/p>\n

On the other side of the spectrum, in\u00a0Japan<\/strong>, only 4.2% of young adults are without a job. A key reason for this is Japan\u2019s shrinking and\u00a0aging population<\/a>\u00a0that\u2019s made for a tight labor market.<\/p>\n

Youth Unemployment: Men vs Women<\/h2>\n

In most OECD countries, it\u2019s common to see young men experiencing a higher unemployment rate compared to young women.<\/p>\n

This contrasts with the trend across\u00a0all age groups<\/a>\u00a0in the OECD, where the unemployment rate is 6.3% for women and 6% for men.<\/p>\n

We visualize the countries in the dataset with the biggest gaps in youth unemployment below.<\/p>\n

<\/a><\/p>\n

There is no singular reason that explains this common gap.<\/p>\n

Across the OECD, more young women opt for\u00a0tertiary education<\/a>\u00a0than young men, which may lead to better employment prospects. At the same time women are overrepresented in the health and social welfare sectors\u2014both growing rapidly thanks to an\u00a0aging population<\/a>\u2014that may make it easier for them to find jobs.<\/p>\n

Why Does Tracking Youth Unemployment Matter?<\/h2>\n

Aside from being an indicator of general opportunities within a country, youth unemployment is a key metric to track, because it can be a bellwether for future economic prospects.<\/p>\n

High rates of youth unemployment also correlate to brain drain within a country, as young adults move elsewhere to find better jobs.<\/p>\n

Finally, large increases in unemployed youth have historically led to the potential of civil unrest, which makes it a politically-charged metric to identify and monitor for governments.<\/strong><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSat, 09\/02\/2023 – 19:00<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/geopolitical\/civil-unrest-fears-grow-youth-unemployment-accelerates<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Civil Unrest Fears Grow As Youth Unemployment Accelerates In nearly every country in the world, youth unemployment is much higher than general unemployment. Unfortunately, the\u00a0pandemic\u00a0only…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1425829","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1425829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1425829"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1425829\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1425829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1425829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1425829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}