Youth unemployment is at an all time high as job growth hasn’t kept pace with population growth.In developed countries the situation worsened with the onset of the recession. And earlier this year, it helped spark the Arab spring across the Middle East and North Africa.
The OECD recently released its latest data on youth unemployment. We put together a list of 16 countries that have a youth unemployment rate higher than America’s 18.4%.
Note: Data is for 2010
Youth unemployment 2010: 22.3%
Youth unemployment 2007: 16.6%
Youth unemployment in Portugal has been over 15% since 2004, but jumped over 20% in 2009. Its school drop out rate of 39.9% is much higher than the EU and OECD average. The incidence of long-term unemployment is also extremely high.
Youth unemployment 2010: 22.4%
Youth unemployment 2007: 18.8%
Belgium has long-term structural issues it needs to fix given that youth unemployment has been in double digits since 2000. The incidence of long-term unemployment is also higher than the OECD average.
Youth unemployment 2010: 23.7%
Youth unemployment 2007: 21.7%
Poland's unemployment rate for those between the ages of 15 - 24 is nowhere near as high as its 43.9% rate in 2002. However, low investment and a surge in people returning to the country after living and working abroad is driving up the rate.
Youth unemployment 2010: 25.2%
Youth unemployment 2007: 18.8%
Sweden's youth unemployment was at 11.1% in 2000 and first jumped above the 20% mark in 2005. In August this year, youth unemployment dropped to 17.3% or 116,000.
Youth unemployment 2010: 26.6%
Youth unemployment 2007: 18%
Hungary's youth unemployment rate jumped from 19.9% in 2008 to 26.6% in 2010. Sick of people on the dole, prime minister Viktor Orbán's government passed a bill through Parliament that would stop giving out unemployment benefits after 90 days, and instead force Hungarians to work in community jobs. Long-term unemployment is higher in Hungary than in the OECD.
Youth unemployment 2010: 27.9%
Youth unemployment 2007: 20.3%
Youth unemployment in Italy is lower now than it was in 2000. But the country's 44.4% incidence of long-term unemployment is higher than the OECD average. With prime minister Silvio Berlusconi pushing through more austerity measures and GDP growth rate revised down to 0.6% in 2011 and 0.3% in 2012, the situation is unlikely to improve in the near term.
Youth unemployment 2010: 28.7%
Youth unemployment 2007: 10%
Unlike many countries on this list Ireland's youth unemployment rate only surged after the collapse of its housing market and the onset of its recession. Youth unemployment has really shot up from 7.6% in 2000, while school dropouts continue to remain low, incidence of long-term unemployment is nearly double the OECD average.
Youth unemployment 2010: 32%
Youth unemployment 2007: 9.8%
Estonia's youth unemployment rate plunged to 11.8% in 2006 only to pick up again in 2009. Rates, in part, are being pushed higher because a larger number of young people are seeking jobs than before. In 2004, 48,000 young people between the ages of 20 - 24 were entering the job market, that number is up to 54,500 in 2011.
Youth unemployment 2010: 32.9%
Youth unemployment 2007: 22.9%
The troika expected Greece to have laid of 100,000 public sector employees as part of its obligations to receive its next tranche of loans. With the threat of default, crushing austerity Greek protests have become commonplace and growth in the job market is unlikely.
Youth unemployment 2010: 33.6%
Youth unemployment 2007: 20.1%
At 50.2%, the incidence of long-term unemployment in Slovakia is more than double the OECD average and the highest in the EU. Interestingly despite high youth unemployment and high incidence of long-term unemployment, school dropout rates are half that of the OECD and EU average.
Youth unemployment 2010: 41.6%
Youth unemployment 2007: 18.2%
At 35.6%, Spain has one of the highest school dropout rates among developed nations. With a paltry 0.8% growth rate in 2011 the country's youth can't expect the situation to change anytime soon. Spain is at risk of losing a generation to emigration which would in turn have a long-term impact on its economy.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.