Precarity Trap: Gig Economy Failing Asia's Youth
Date
9/16/2024 9:10:32 AM
(MENAFN- Asia Times)
Precarious employment among youth in the Asia-Pacific region has become an increasingly urgent issue, with a growing number of young people trapped in temporary jobs without social security or long-term contracts.
According to the International labor Organization's Global Employment Trends for Youth 2024 report, over 28% of youth in Southeast Asia and the Pacific were engaged in temporary employment that lacked financial security and social protections in 2023.
This situation not only undermines the financial stability of individuals but also has serious implications for the region's long-term economic prospects.
Global trends, highlighted in the ILO's report, show that temporary employment in the region has been rising since the early 2000s. Although flexible, these jobs rarely provide long-term contracts, leaving young workers without access to essential benefits like healthcare and pensions.
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