Economic recession not only affects those who belong in the working class or the generation involved in labor. Children and the youth are getting affected by economic recession and poverty so much, that these children sometimes never acts their age or sometimes so insecure of their surroundings.
According to the United Nations World Youth report, youth (with ages 18- 24 years old) is 18 percent of the world population. Meanwhile, the youth is also 25 percent of working age population. Last 2007, there were more than 1.2 billion people in the world who belonged to this age group.
Youth are two to three times more likely than adults to be unemployed. The situation is particularly critical for young women, who suffer higher rates of unemployment than young men in the majority of economies. According to the International Labour Organization (ILO), youth in both industrialized and developing countries are more likely to be working long hours, on short-term contracts, low pay and with little or no social protection at all.
Youth who enter the workforce with limited prospects, like underdeveloped and inadequate education, have the high probability of facing unemployment, whether it is short or long term, intermittent spells of unemployment and low- wage jobs.
There are more than1 billion youth people aged between15 to 24 are unemployed. A large percentage (85 percent) would be from developing countries. There are 160 million people unemployed globally right now, according to ILO, and nearly 40 percent of this number comes from the youth sector.
Most of the employed youth would be working with short term employment. The casualisation or contractualisation of the youth sector or making the youth work shorter terms affects the benefits or social protection they get from employers. This explains why many of the employed youth are working without or little protection.