I. Background: Youth Employment in Asia and the Pacific
Asia and the Pacific is home to over 1.1 Billion individuals aged 15-29 among ADB members. This presents a window of opportunity to build on the economic productivity of young people, known as the “demographic dividend.” 40 million individuals, mostly youth, enter the workforce every year and majority of whom are from Asia Pacific.i As more young people participate in the labor market, the greater the need to ensure that they are empowered economically and engaged in areas of programming and policy related to the labor market.

In 2020, youth unemployment in Asia and the Pacific outpaced the global average (13.7 percent) at 14.1 percent. Over 24.4 percent of Asia and the Pacific’s youth population are considered not in employment, education or training (NEET) and are likely to have limited economic prospects against a global recession. 86.4 percent of the region’s youth working population are in informal jobs and are without social and legal protection.ii These youth workers are offered little to no alternatives or safety nets in the face of job loss as a result of lockdown and quarantine measures. In India, over 27 million youth aged 20 to 30 lost their jobs following a nationwide lockdown to prevent the spread of COVID-19.iii Globally, the International Labour Organization (ILO) estimates over 1.6 billion workers in the informal sector and over 305 million full time jobs to be lost to the coronavirus pandemic (COVID-19). Capturing youth’s voice on their aspirations and anxieties amidst changing labor market conditions is significant now more than ever, especially against the backdrop of COVID-19.

II. Increasingly Uncertain Labor Market Conditions for Youth due to COVID-19
COVID-19 continues to drive unprecedented economic and social impact globally and young people are among the hardest hit and most vulnerable to these effects. Business and school closures and restrictions, to name a few, present new challenges and disruptions in education and health, and quality jobs.iv Existing structural barriers such as gender gaps, unequal access to labor, and upskilling opportunities in rural economies, lack of experience compared to adult counterparts, and the prevalence of youth NEET are exacerbated by COVID-19.

As more economies struggle to make up for gaps in employment through stimulus packages and welfare support, government resources are shrinking and spread across efforts to combat COVID-19 and keeping the economy afloat. International development institutions, civil society organizations, and governments need to begin developing pathways, plans, and policies that support the needs of youth in ensuring their economic recovery and resiliency during and after COVID-19. These policies must reflect the unique and evolving labor market needs and aspirations of youth in Asia and the Pacific to attain sustainable employment outcomes.

ILO’s global policy framework on COVID-19 sets out the importance of social dialogue and collective solutions as its fourth pillar to address socioeconomic challenges caused by the pandemic.v Social dialogue is an important component of all stages in crisis response; it facilitates the design of credible, effective, and well-contextualized solutions informed by in-depth knowledge from vulnerable workers and enterprises themselves.vi This is especially true for young people who require motivation and support to overcome their frustration and anxieties in times of shocks.vii These realities emphasize the emerging importance of meaningfully engaging affected groups, especially young people, who are significantly impacted by growing socioeconomic insecurity. Governments and development institutions must envision a recovery strategy to build back better, stronger, and more resilient that is
supported by the wider community.viii

III. The Asia Pacific Youth Symposium (APYS): Spotlight on COVID-19

The Asia Pacific Youth Symposium (APYS) is a social dialogue platform that convenes governments, young leaders, and other stakeholders to discuss major and emerging issues related to Youth Economic Empowerment (YEE) and the 'new normal’ impacted by COVID-19. Organized jointly by the Asian Development Bank through its youth initiative, Youth for Asia, the Asian Development Bank Institute (ADBI), and Plan International, APYS aims to provide an environment for meaningful cross-generational and cross-sectoral discussions in Asia and the Pacific.

The event will culminate in a series of cross-generational consultations that will inform a knowledge product of the Asian Development Bank (in collaboration with the Asian Development Bank Institute) on the topic of Youth Economic Empowerment in the context of COVID-19. This research will share insights and recommendations for COVID-19 recovery, coping, and resiliency initiatives in ADB’s Developing Member Countries (DMCs) from the perspective of youth and relevant stakeholders.

APYS will be held virtually. The event will feature a series of keynote addresses, panel discussions, and consultation spaces for participants to explore topics related to Youth Economic Empowerment with a central focus on meaningful youth engagement. The delegates will also gain the opportunity to network with ADB staff, experts from think-tanks, government representatives, private sector, civil society organizations (CSO) and fellow youth peers from youth-driven organizations.