The writer is director of research and advisory at Asia House think-tankGlobal youth unemployment is soaring. China’s rate is at a record high. Even more problematic is the lesser-known Neet rate, measuring the share of youngsters not in employment, education or training.
A rising Neet rate should be ringing alarm bells everywhere. It has quietly risen above 20 per cent globally, a level not seen in almost two decades. And even when employment is offered, it is often the wrong kind, poorly paid, and mostly informal, according to the International Labour Organization.
As I walk my son to school through the construction boom of southern Athens, I think about affordability. I wonder about my young neighbour, who, with a newly minted PhD, has just accepted a part-time position as a junior restaurant manager. “It’s better than no job,” she says.