To Reduce Inequality, Employ Young People
Burcu Hacibedel and Priscilla Muthoora
Rising economic growth has reduced inequality in low-income and emerging market countries over the years. […]
Chart of the Week: Crime, Joblessness, and Youth in the Caribbean
By IMFBlog
February 12, 2018
Weak growth in the Caribbean reduces economic opportunities for young people, increasing their vulnerability to illegal activities and crime (photo: IMF)
Youth unemployment in the Caribbean—among the highest in the world—and crime are key bottlenecks to growth in the region.
In our Chart of the Week, we show that the 2008 global financial crisis had an especially strong effect on the unemployment rate for those between the ages of 15 and 24, which jumped on average by 5 percentage points between 2007 and 2013—from 21 percent to 26 percent. In some countries (for example, the Bahamas, Barbados, and Jamaica), youth unemployment rates are nearly three times that of those aged 30 and over. […]