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Policy Briefs |
Introduction
In his report to the 59th Commission for Social Development on the priority theme of socially just transition towards sustainable development (E/CN.5/2021/3), the Secretary- General pointed out that “By adopting the 2030 Agenda, world leaders recognized that the current trajectory of economic development has not led to shared prosperity for all, but to high and rising inequalities in many countries, the climate crisis, and unsustainable consumption and production patterns. These consequences have taken a toll on social development and people’s well-being, especially among the most vulnerable.” The Report further analyzed the link between high inequality, consumerism…
Policy Briefs |
Socioeconomic impacts
Prior to the onset of COVID-19, youth (aged 15 to 24) were already three times more likely to be unemployed compared to adults, while 126 million young workers were in extreme and moderate poverty worldwide (International Labour Organization, 2020). Young workers are also more likely to be in precarious employment than other age groups. Whereas some 77 per cent of youth are estimated to be informally employed globally, this percentage is even higher for young women in low and lower-middle-income countries (International Labour Organization, 2018).
The increase in unemployment as a result of COVID-19 is expected to exceed the rise in rates of unemployment in the…