The kids aren’t alright (Editor’s Notes)

Employers, retirees could be long-term losers if young people are unable to find work soon
By Todd Humber
|Canadian HR Reporter|Last Updated: 06/18/2012

Musical chairs is a fun game to play when you’re in elementary school. But for new grads looking for a job, the race to find an empty chair isn’t nearly as alluring. (See “Falling through the cracks.")

There is a crisis in youth not being able to find work — the global unemployment rate for people aged 15 to 24 was 12.6 per cent last year and is projected to rise to 12.7 per cent this year, according to Global Employment Trends for Youth 2012, a 55-page report by the International Labour Office (ILO) in Geneva.

To put those numbers in perspective, the global youth unemployment rate was 11.6 per cent in 2007 but, when the economy tanked in 2008, the rate quickly shot up and hasn’t come down.