August 12th is the International Youth Day and definitely the world is in debt with young people. The ILO has reminded us that around 35 million young people are affected by unemployment in Latin America. Moreover, 27 million young people are employed but under informal conditions, generally with low incomes, labour instability, no rights and no social protection.

The international organization has stated that adopting strategies to face this situation is an urgent matter. The current situation may potentially cause frustration and discouragement among those entering the labour market.

“Unemployment and informality affect the life quality of those people aged between 15 and 24 years old entering the labour market. These situations generate feelings of vulnerability and uncertainty”, said Elizabeth Tinoco, ILO’s Regional Director for Latin American and the Caribbean.

The urban unemployment rate among young people in Latin America is three times higher than among adults. Six out of ten youngsters who manage to enter the labour market, do it under informal conditions. Less than 40% contribute to health insurance and less than 30% to the pension system.
Within this context, public employment agencies’ work is insufficient and most countries in the region have not ratified ILO’s Convention 181 on Private Employment Agencies yet. Such agencies may promote the access of young Latin Americans towards the formal labour market, through a proper public-private articulation. The ratification of this Convention together with active employability policies seem to be the key to develop formal employment among our youngsters.