The global youth unemployment rate has been steadily increasing since the 1990s, reaching a peak of 18.4% in 2020, as business closures and widespread economic disruption during the pandemic significantly reduce job opportunities for young people. While the 2022 youth unemployment rate of 15.6% suggests a slow recovery toward pre-pandemic levels, it still represents a 50% increase since the early 1990s, when the rate was around 10%.