Alarmingly, the question of youth unemployment has become a
major epidemic plaguing many of the world nations and therefore, has become a
matter of grave concern across the globe. According to data from the World
Economic Forum, 2013, youth make up an astonishing 40% of the world's
unemployed. In 2012, the number of young-unemployed people below the age of
25 stood at a staggering 75 million worldwide, according to a report by
the International Labour Office. The youth unemployment rate in Europe is 20%,
in Spain it is 57% and in the US it is 21%. The United Nations define
unemployed youth as 15 to 24 year olds who are actively seeking employment. At
the World Economic Forum 2014, the topic of youth unemployment was discussed in
The Millennial Challenge session. More specifically, it dealt with the relevant
question of “How can the public and private sectors address the youth
unemployment crisis". The Speakers were Muhtar A.
Kent, Robert Greenhill, Guy Ryder, Klaus Kleinfeld, Khalid
A. Falih, and Maria Fanjul.
In this session four
main problems were identified as fundamental to the issue of youth
unemployment:
1. Lack of an entrepreneurial mindset
2. A mismatch between high youth unemployment across the
globe and the dearth of qualified workers for many companies
3. Misconception and prejudice towards certain types of jobs.
For example, jobs in the manufacturing industry.
4. Active labor policies that facilitate youth employment
Although many solutions
are being constantly put forward in the hope of alleviating the problem, the
need for a long- term strategic solution still looms large. Youth
unemployment further translates into long-term unemployment. This is because,
about one in every six young people in the Organization for Economic
Cooperation and Development(OECD) countries is neither employed nor in
training. It is anticipated that the leaders of tomorrow will be capable
of delivering a unified solution that could be successfully implemented
worldwide. The future of the world stands bleak if the youth is not empowered!
Do watch the video. Comments and ideas are much appreciated.
Content by info@AlphaSMC.com
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