Young people continue to bear the brunt of the jobs crisis, with nearly 11 million 15 to 24 -year-olds out of work in OECD countries in early 2012. Youth unemployment in the OECD area in March 2012 was 17.1%, close to its November 2009 peak of 18.3%
Young people and their job prospects must be right at the centre of the policy agendas of our member and partner countries. Investing in youths is vital, we can neither accept nor afford a lost generation, said OECD Secretary-General.
Urgent action must be taken by the governments to tackle high unemployment and growing inequality. Good-quality social policies, particularly those addressed to the most vulnerable, should be seen as sound investments to promote economic growth and well-being, according to Angel Gurría.
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This report was prepared to help Korea identify and address main social policy challenges. It suggests specific policy options and a strategy to “go social”, based on the practices and reforms that have worked well in other countries.