From Statistics Explained
Youth unemployment includes all the youth (i.e people between the ages of 15 and 24, inclusive) who are unemployed.
Youth unemployment rate is the percentage of the unemployed in the age group 15 to 24 years old compared to the total labour force (both employed and unemployed) in that age group. However, it should be remembered that a large share of people between these ages are outside the labour market (since many youths are studying full time and thus are not available for work), which explains why youth unemployment rates are generally higher than overall unemployment rates, or those of other age groups. For this reason the youth unemployment ratio is often used: the percentage of unemployed young people compared to the total population of that age group (not only the active, but also the inactive such as students).
- Youth unemployment (methodological background article)