Unemployment: The Growing Menace

Unemployment continues to be one of the gravest problems facing our world today. Billions of young people around the world are victims of this scourge, and the sheer amount of unemployed people keeps mounting as more and more young people are plunged into a job market which has fewer and fewer decent jobs to offer.

The International Labor Organization projects that by 2019, 212 million people worldwide who are eligible to work will be unemployed. It goes without saying that given the dominant youth population, young people will bear the brunt of this worrying forecast. 

 the number of unemployed people around the world is expected to rise

the number of unemployed people around the world is expected to rise


The great recession of 2007-2009 had a severe effect on the job market. Developed regions like the US and parts of Europe are still reeling from the effects of that crisis, and developing middle-income countries like Brazil and China are finding it increasingly difficult to meet job creation projections. 

 tradingeconomics.com

tradingeconomics.com

In Africa's largest economy, Nigeria, the rate of unemployment is on an unrelenting and steady increase. The Nigerian Bureau of Statistics reported that the unemployment rate grew from 10.4% to 12.1% in the first quarter of 2016. Not only is this  a very worrying statistic, it is also very probably an under-estimation of the real situation given the existing problems of accurate data collection. 

 Nigerian Bureau of Statistics

Nigerian Bureau of Statistics


What does this global problem mean for young people worldwide?