OECD Calls for Increased Funding to Combat Youth Unemployment in the US

Strategic Insights -

The Organization for Economic Co-operation and Development (OECD) has issued a report highlighting the alarming rates of youth unemployment in the United States. According to the report, the number of jobless school leavers in the country has reached 1.6 million, with a staggering 19 percent rate of unemployment among this demographic. This represents an 8 percentage point increase from the previous year, and is significantly higher than the overall labor market unemployment rate.

Key Takeaways:

  • The number of jobless school leavers in the United States reached 1.6 million in the year to November 2009, with a 19 percent rate of unemployment.
  • The rate of unemployment among 16-19 year olds is 1 in 4, compared to 1 in 10 for all workers nationwide.
  • The OECD has advised the US government to financially support unemployed youths and at-risk young people, and to arm young people with necessary skills before they enter the labor market.
  • The report highlights the importance of teaching practical skills in schools to prepare young people for the labor market.
  • OECD Secretary-General Angel Gurria emphasized the need for the government to act quickly to extend financial support to more young people and increase funding for re-employment programs.

Statistics:

  • 19 percent: the rate of unemployment among jobless school leavers in the United States (year to November 2009).
  • 8 percentage points: the increase in unemployment rate among jobless school leavers from the previous year.
  • 1.6 million: the number of jobless school leavers in the United States (year to November 2009).
  • 1 in 4: the rate of unemployment among 16-19 year olds in the United States (November 2009).
  • 1 in 10: the rate of unemployment among all workers nationwide.
  • 2006: the year the OECD launched a review on Jobs for Youth among 16 countries.
  • 14th: the position of the United States in the series of reports on Jobs for Youth, which was launched in 2006.

Sources:

  • OECD
  • Xinhua News Agency via COMTEX
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