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Youth Unemployment Hits Record High

Pat McMahon Contributor
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Global youth unemployment has hit a record high following the financial crisis and is likely to get worse later this year, the International Labor Organization (ILO) said Thursday.

The report from the ILO says 81 million out of 630 million 15-24 year olds where unemployed at the end of 2009, some 7.8 million more than at the end of 2007.

Thursday marks the first day of the UN International Youth Year; the ILO warned these trends will have “significant consequences for young people as upcoming cohorts of new entrants join the ranks of the already unemployed.”

Full story: Youth Unemployment Hits Record High – CNBC