People wait in line at a job fair in the Queens borough of New York City
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Business Bites: ILO warns of youth unemployment 'crisis'

The number of people aged 15 to 24 without jobs now stands at almost 75 million worldwide, according to a report from the UN agency in charge of workers' rights.

The International Labour Organisation says some of the highest rates of unemployment are in the European Union where one in five people under the age of 24 are looking for jobs.

The ILO warns many are trapped in low paid, low skilled jobs and others have simply given up looking for work.

But can an individual's current joblessness negatively impact on their future employment prospects?

And figures released later will reveal the state of the US housing market.

The BBC's Jamie Robertson discusses the key financial stories of the day.

  • 22 May 2012
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