Europe faces a “demographic time bomb” as its population ages and a record amount of young people remain out of work, the director general of the International Labor Organization (ILO) warned on Thursday.
Guy Ryder told CNBC on the sidelines of the G20 summit that leaders weren’t doing enough to tackle the problem.
“If we don’t get these young people into work it’s a demographic time bomb, so there’s a bit of schizophrenia around these issues and the only way out of that schizophrenia is to find ways to get young people into work,” Ryder said. “Youth unemployment is double, triple the overall levels and we need to find those jobs quickly for all sorts of reasons.”
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