According to the International Labor Organization (ILO), there are more than one in six young people that have stopped working since the Covid-19 pandemic hit the world and while those who remain employed have witnessed a cut by 23 percent.
According to the ‘ILO Monitor: Covid-19 and the World of Work’, youth are being disproportionately affected by the pandemic, and the substantial and rapid increase in youth unemployment seen since February is affecting young women more than young men.
The pandemic is inflicting a triple shock on young people – not only destroying their confidence, but also disrupting their education and training, while placing big obstacles for those seeking to enter the labor market or to switch between jobs.
Globally, a total of 178 million young workers – around more than four in ten young people, are employed in hard-hit sectors, while 77pc or 328m of the world’s young workers were in informal jobs before the crisis began.
Talking about the prospects for the second quarter of 2020, the latest ILO estimates reveal a decline in working hours – around 4.8pc decline in the working hour in the first quarter, and 10.7pc relative to the second quarter of 2020.
Regionally, the Americas, Europe and Central Asia facing the largest losses in hours worked; the former is expected to lose 13.1pc working, while the latter two will face the estimated decline of 12.9pc working hours in the second quarter 2020.
According to Guy Ryder, ILO Director-General, “The Covid-19 economic crisis is hitting young people – especially women – harder and faster than any other group. If we do not take significant and immediate action to improve their situation, the legacy of the virus could be with us for decades. If their talent and energy is side-lined by a lack of opportunity or skills it will damage all our futures and make it much more difficult to rebuild a better, post-Coved economy”.