It is estimated that about 10-12 million people in the continent are joining the labour force each year, a figure projected to rise further in the next decade. If we utilize those resources in which most of the countries in this region are self sufficient, and invest appropriately with right intentions in lucrative projects, then it is most likely that more people will get jobs and the unemployment ratio in South Asia would improve to a great extent. How well-equipped they are with education, skills and professional experience determines their success. Regional and sectoral disparities in labour market conditions are also present in both countries. At the same time India is the largest, and fastest growing economy in the region with average annual GDP growth of 7.3 per cent in 2008–2018. Globally, 21.2 per cent of young people were not in employment, education or training (NEET) last year (figure 1). Young workers face significant challenges in finding decent jobs. Series from World Development Indicators. height: 200px; This reflects, among other things, higher rates of informality among young workers. At any rate, adapting to new jobs and to continuous changes in the requirements of jobs are present-day realities for today’s youth workforce. /* Content Template: Publications Body Template - start */ #content #rss-6 ul { border-top: solid 8px #f2f2f2; } #content div.col-md-9 img.aligncenter { #content ul.sidebar-filtered-attachment .addthis_sharing_toolbox { } Yet, translating this “youth bulge” into a “demographic dividend” critically depends on the capacity to generate productive jobs, even more so considering that dependency ratios remain elevated, especially in sub-Saharan Africa. The indicator is available from 1991 to 2020. Color of the countries with the lowest data: light red. Copyright © Actualitix 2020. #content .rpwe-time { Skills mismatch still plagues many countries to the point that, in 2012–2013, over half of youth in 28 developing countries were found to have skills that do not match job requirements Education and skills development systems, especially approaches to lifelong learning, must be continuously revisited. Moreover, people are not assigned duties and responsibilities on merit basis, it’s more a case of references and contacts, owing to which most of the important positions are held by incompetent/average individuals. This potentially entails enormous economic benefits. /* ----------------------------------------- */ The data are for the different sovereign countries of the world. Contact us to discuss your business need or a digital initiative. Creation : margin-top: 1em; Save my name, email, and website in this browser for the next time I comment. Youth unemployment rates are lowest in Germany (6.0 per cent), the Czech Republic (6.1 per cent) and the Netherlands (6.5 per cent), and exceptionally high in Greece (39.1 per cent in November 2018), Italy (33.0 per cent) and Spain (32.6 per cent). } /* Taxonomy Links */ Countries such as Angola, Mozambique, Niger and Uganda have a median age for their population below 18 years, and the reduction in infant mortality coupled with slowing, but still high fertility rates has translated into a significant “youth bulge” across the continent. text-transform: uppercase; Since the global economic crisis in 2009, the number of young people in employment has contracted by more than 15 per cent (figure 2), in contrast to the number of employed adults, which has grown uninterruptedly. The developed nations can play a positive role through outsourcing and off-shoring. /* Lyris Box */ St. Louis, MO 63102, http://data.worldbank.org/about/country-and-lending-groups, More Definition (source Wikipedia): Unemployment occurs when people are without work and actively seeking work. margin-bottom: 0; In recent months, countries with large export-oriented sectors, including China, the Republic of Korea, Taiwan Province of China, and Viet Nam have seen a contraction in manufacturing employment, amid a decline in production and new export orders.