Youth unemployment rises in China, Brazil: ILO

Youth unemployment is rising in China and Brazil as their economies have slowed, said the United Nation’s International Labour Organisation (ILO) last week.

News agency Reuters quoted the Geneva-based institution saying the youth unemployment rate in China has risen from 9.3 percent in 2010 to 10.6 percent in 2014. The rate of unemployed youths aged 15-24 is estimated to reach 10.8 percent this year and 11.1 percent next year in China, ILO added.

Azita Berar-Awad, director of the ILO’s employment department, said slower economic growth meant fewer jobs for young Chinese, but a sharp rise of graduates was also to blame.

“They’ve had an explosion of university graduates for so many years, with investments in universities, and not all these qualified young people find jobs that meet their qualifications, even in a growing economy like China,” Ms Berar-Awad added.

In Brazil, the annual youth unemployment rate stayed below 14 percent in the last three years but it averaged 15.8 percent in the first half of this year, said the organisation.

The International Monetary Fund predicted last week the Brazilian economy would fall 3 percent this year, worse than a previous forecast of a decline of 1.5 percent.