| Young women and men are among the world's greatest assets. They bring energy, talent and creativity to economies and create the foundations for future development. But today's youth also represent a group with serious vulnerabilities in the world of work. In recent years slowing global employment growth and increasing unemployment, underemployment and disillusionment have hit young people the hardest. As a result, today's youth are faced with a growing deficit of decent work opportunities and high levels of economic and social uncertainty.
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In many economies, young people are two to three times more likely than adults to find themselves unemployed and the problem is rapidly growing in almost every region of the world (Note). Although young people today are the most educated generation ever, both industrialized and developing countries are failing to increase employment opportunities for them. The lack of opportunities is of course linked to the general state of the economy and employment situation but it is also a result of the mismatches between the skills young people possess; the skills required by the labour market and the challenge of acquiring these skills. All of these factors can lead to long periods of unemployment, job seeking or low skilled and precarious work, which are not only detrimental to young people but impact heavily on economies and society in general.
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