May 24, 2022
The Middle East and North Africa are facing the highest rates of youth unemployment; 22,000 migrants have been prevented from entering the EU from Greece so far in 2022
Today’s global news summary brings news from the Middle East and North Africa, Greece, and the UK and discusses issues as diverse as youth unemployment, migration, and climate change.
- Middle East and North Africa: the world’s largest unemployment hot spots
- Greece: 22,000 migrants have been prevented from entering the EU so far in 2022
- UK: Banks and insurers to shoulder nearly £340bn worth of climate-related losses by 2050
The Middle East and North Africa have the world’s highest unemployment rates
Program evaluation | Labor markets and institutions
According to a joint-release by the UN labour agency, ILO, the UN Development Programme (UNDP), the UN Population Fund (UNFPA) and the UN Children’s Fund (UNICEF), more than 33 million new jobs need to be created by 2030 in the Middle East and the North Africa region. The statement highlighted that “current education systems and curricula do not match the evolving labour market and the changing nature of work. They do not provide young people with enough skills, critical to success in today’s economy.” As reported by UN News, young people continue to battle with a multitude of issues, including but not limited to poverty, displacement and migration. Pre-Covid-19, the region had more than 14 million children out of school as well as one of the lowest rates of return to education in the world. Unfortunately, the pandemic has contributed to the education crisis and increased pre-existing inequalities.
In his article Francesco Pastore acknowledges that “young people are the most affected by adverse economic conditions.” He highlights that “a better understanding of what drives these differences in labor market performance of young workers is essential for policies to be effective.”
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Greece: 22,000 migrants have been prevented from entering the EU so far in 2022
Migration and ethnicity
Greek coastguard sources have reported that about 22,000 migrants have been prevented from entering the European Union from Turkish territorial waters to the Greek islands of Chios and Samos since the beginning of 2022. Aljazeera reports that: “Athens regularly blames Ankara for not taking sufficient action to curb people smugglers who send out migrants in unsafe boats and dinghies from its shores, in breach of a 2016 accord with the EU.”
IZA World of Labor authors Cynthia Bansak and Sarah Pearlman have explored the impact of legalizing unauthorized immigrants. In their article they highlight that “understanding what prompts people to migrate in an unauthorized status and how they perform after legalization is vital for designing effective immigration policy.”
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Banks and insurers in the UK might shoulder almost £340bn worth of climate-related losses by 2050
Environment | Demography, family, and gender
As reported by the Bank of England and covered by The Guardian, UK banks and insurers might shoulder nearly £340bn worth of climate-related losses by 2050, unless action is taken to limit rising temperatures and sea levels. Sam Woods, deputy governor for Prudential Regulation and chief executive officer of the Prudential Regulation Authority, says that: “Climate change will inevitably drive losses for banks and insurers – even in a scenario where governments around the world take swift and early action to bring us to net zero.”
Marie Connolly, IZA World of Labor contributor, has looked at climate change and its effect on the allocation of time. In her article she warns that: “Research suggests rising temperatures will reduce time spent working and enjoying outdoor leisure, while increasing indoor leisure. The burden will fall disproportionately on workers in industries more exposed to heat and those who live in warmer regions, with the potential to increase existing patterns of inequalities.”
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