The possibility that a 14 to 24-year-old Mexican is unemployed is three times higher than for someone who is between 35 and 45 years old, according to an analysis of the Mexican labor market, produced in the context of the World Development report 2013.
This is happening in a country that in 20 years has seen an unprecedented growth in its labor force. The authors of the Mexican case study calculate that there were 20 million more Mexicans that were old enough to work in 2010 than in 1990.
In the World Development Report, on the other hand, it is stressed that the benefits of jobs are more than simple earnings. “Not only do they give economic benefits, but also social benefits important for development,” says Samuel Freije-Rodriguez, World Bank economist and co-author of the report.
For this reason, stable and well-paid jobs are fundamental for countries that want to consolidate their development, especially in the current global crisis. “Jobs are the best insurance against poverty and vulnerability,” says Kaushik Basu, World Bank Chief Economist and Sr. Vice President.
It is estimated in the report that there are more than 3 billion people that have an employment, but almost half of them have jobs with low salaries, with little guarantees of stability and scarce social protection mechanisms.