ABSTRACT
This chapter examines the different types of unemployment, how to measure unemployment and the problem of high youth unemployment around the world and specifically what the UK government is doing to tackle it. It explains how to produce an informative and newsworthy labour market report when monthly labour market data is released. The International Labour Organisation (ILO) definition of the unemployment rate is the most widely used labour market indicator because of its international comparability and relatively timely availability. Although youth unemployment is off its peak, it is still above the levels seen before the financial crisis and the ILO says the youth unemployment crisis 'is far from over'. A flexible and efficient labour force is a key prerequisite for a competitive economy. In the global economy, the search for workers to fill labour and skill shortages often crosses national borders.
