This rate however, is expected to tick up slightly this year to 13.1 percent, according to the ILO's "Global Employment Trends for Youth 2015" report published to coincide with the World Bank and International Monetary Fund's annual meeting in Lima, Peru.
However, some parts of the world are suffering more than others. Most of Europe, Latin America, Sub-Saharan Africa and other developed economies saw a decline in unemployment since 2012; however, rates have risen in parts of Asia, North Africa and the Middle East.
While more young people are opting to enter further education, many face long-term unemployment or temporary jobs when they choose to enter the labor market full-time, the report found.
Overall, the ILO warn that the stability of career prospects is becoming "increasingly tentative."