Youth Unemployment

Youth unemployment is not only of huge problem by itself but also affects the inequality issues between generation. Since the global crisis in 2007, youth unemployment has surged. According to OECD database, there were 51.5% increase in Spain, 50.1% in Greece, 42.3% in Italy, 33.4% in Portugal and 28.8% in the Slovak Republic.

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Figure 1.5 shows the summary of each country. However, sometimes only unemployment rate doesn’t indicate the reality well. Another measure of the unemployment issue was developed, which is the NEET rate. It can be defined the proportion of people who are neither employed nor in education or training. This has increased in most of the OECD countries since 2007. Especially, Countries such as Greece, Ireland, Italy, Slovenia and Spain, have been suffering of the huge increases in the NEET rate.

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Figure 1.6 shows the NEET rates in OECD Countries. Comparing with Figure 1.5, we can see some countries that has high share of youth population inactive. For example, Turkey, Mexico and Korea. This phenomenon can be explained by the culture differences among countries. For example, in Turkey, Mexico, and Korea, a great number of young women don’t want to be employed and raising a family at the same time.

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