On December 3, 2009, President Barack Obama hosted a special White House summit on jobs. With the United States deep in the throes of the most severe economic downturn since the 1930s, and with unemployment hovering around 10 percent, the administration was determined to show an anxious public its commitment to finding ways to get people back to work. Among the challenges raised by summit participants was the need to expand exports. A month and a half later, the President made it clear that he got the message.
Vanessa Muñoz, 24, and Hector Quiroga, 22, haven't met, but they have a lot in common. Both are from poor families; both have children; both live in the same district of Bogotá; and neither has completed secondary education. They are also both members of a 95-million-strong generation of Latin Americans aged 15 to 24 that is being hit hard by the global economic crisis. The 2008 recession ended five years of growth in Latin America that created jobs and market access for many of the region's young adults. Around the globe, there were an estimated 81 million unemployed young workers in 2009—almost 8 million more than in 2007—reflecting a sharper rise in youth unemployment than ever before. In Latin America and the Caribbean, where young workers are three times more likely to be unemployed than their elders, formal youth unemployment rose from 14.3 percent to 16.1 percent between 2008 and 2009.