Youth unemployment rates refer to the percentage of individuals between the ages of 15 and 24 who are actively seeking employment but unable to find jobs. High youth unemployment rates can have detrimental effects on both individuals and the overall economy of a country.
Related terms
Labor Force Participation Rate: The labor force participation rate measures the percentage of working-age population that is either employed or actively looking for employment. It helps evaluate how many people are engaged in productive activities within an economy.
Informal Economy: The informal economy consists of economic activities that are not regulated or protected by the government, such as street vending or cash-based transactions. It is often associated with high levels of unemployment and low job security.
Skills Training Programs: Skills training programs aim to equip individuals with specific knowledge and skills required for various industries or professions. These programs can help reduce youth unemployment rates by enhancing employability.