The report, recently discussed at the World Labor Organization General Assembly, indicates that around 41% of young people in Latin America are unemployed. Surprisingly, these figures are not limited to unqualified workers.
According to Mr. Guillermo Sosto, who worked in the development of the report, a significant share of those who are indeed working, do it under vulnerable conditions and without the protection of labor rights or any stability. Latin American countries are taking measures to address the issue, like scholarships and training programs. Experts say, however, much more needs to be done to wipe out this major social scourge. The International Labor Organization report points out that providing opportunities for young people is of essence to foster innovation and the vision of future in the business world. According to estimates, if youth unemployment is cut in half, the global GDP would increase from 4 to 7%.