Report: MENA region has highest youth unemployment rate; 28% youth without jobs
With 28% of the youth labour force being unemployed, the Middle East and North Africa has the highest youth unemployment rate in the world, a recent study has revealed.
Silatech in collaboration with Visualising Impact has released an infographic called the ‘Long Run’ which focuses on ‘youth unemployment and its effect on delayed independence’. As compared to the MENA region, other regions in the world have far lower youth unemployment rates – Latin America & Caribbean (14%), Sub Saharan Africa (12%) and East Asia (10%).
The low scope of employment, in turn, affects the age of financial independence among youth. In the MENA region, over 7 million young people have to wait much longer to gain their first professional experience. As a result, the ‘marriageable age’ or ‘age of independence’ is highest for male youths in the region (29 years).
According to the report, the International Labour Organisation has estimated that the region’s Gross Domestic Product (GDP) could increase by $25 billion by 2018 if the youth unemployment rate is reduced by half.
In a statement, Dr. Tarik M. Yousef, CEO of Silatech, has said, “Without a job, and unable to marry and begin a family, too many young people are locked out from full participation in their societies.
“The anger and desperation that we see reflected in news headlines are largely rooted in the frustration of disenfranchised youth without hope. Youth exclusion is the single most important challenge faced by the MENA region, and yet it receives a minimal share of attention and resources. It is time for that to change.”
Read the full report here.
[Infograph courtesy: Silatech]