OECD youth unemployment rises as global job market evolves

The OECD unemployment rate fell to 4.9% in May, near a historic low that is expected to persist through 2027. However, the study notes a rise in unemployment among young people, including recent graduates and those without higher education, in several member countries. Regional gaps are stark: youth unemployment rates in the bottom 20% of regions are more than double those in the top 20%, with Belgium, Canada, Italy and Slovakia reporting rates over four times higher than the best-performing regions.

A World Economic Forum report projects the creation of 78 million new jobs worldwide by 2030. It predicts a shift in hiring practices away from seeking a perfectly qualified candidate toward valuing practical skills, learning ability, and adaptability. Employers are urged to prioritize soft skills such as critical reasoning, problem‑solving, collaboration and continuous learning. In Brazil, a career conference in São Paulo will connect companies with talent selected for cultural fit and growth potential, reflecting the broader move toward skills‑based recruitment.

These trends highlight growing disparities in labor markets and a transformation in how companies attract and develop talent amid rapid technological change.