Tens of millions of young people today are facing a critical shortage of jobs. Of the 207 million unemployed people worldwide in 2009, 40 percent, or approximately 81 million were between the ages of 15 and 24. Millions of young people who do succeed in finding work are engaged in poor quality and low-paying jobs with insecure work arrangements. Where prospects for paid employment in the formal economy are limited, working poverty, and vulnerable employment are the norm for young people. There is an unfortunate link between poverty and low-wage employment, as poor households are less likely to invest in the education of young people, thus limiting their future prospects of higher-paid employment in the formal sector.
The partnership between The MasterCard Foundation and the ILO will dramatically increase the global knowledge base on how young people transition from education to stable employment and create tools to inform youth employment policies and programs worldwide. Surveys from 28 countries in five global regions will produce a series of comprehensive and analytical national, regional, and global reports on youth employment. The program will create global databases that will be widely available to UN and bilateral agencies, international organizations, ministries of labour, policymakers, employers, foundations, academia, and young people.
|Value||USD 14.6 Million|