Youth Unemployment and the emergence of the discouraged job seeker

Young people remain particularly stricken by the global financial crisis. Currently, some 73.8 million young people are unemployed globally and the slowdown in economic activity is likely to push another half million into unemployment by 2014.

The youth unemployment rate – which had already increased to 12.6% in 2012 – is expected to increase to 12.9% by 2017. The crisis has dramatically diminished the labour market prospects for young people, and many experience long-term unemployment right from the start of their labour market entry, a situation that was never observed during previous cyclical downturns.

Currently, some 35% of all young unemployed have been out of a job for six months or longer in advanced economies. As a consequence, an increasing number of young people have become discouraged and have left the labour market. Long spells of unemployment and discouragement early on in a person’s career also damages their long-term prospects, as professional and social skills erode and valuable on-the-job experience is not built up.

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Youth Unemployment Outlook – August 14th 2012.

South Sudan national youth service initiative announced

South Sudan Youth and Sports minister outlines plan to counter high youth unemployment rate

UK: May figures show decline in Manchester’s youth unemployment

The figures for May come after it was revealed that youth unemployment was as high as one in five in some of the worst affected parts of the county

Zimbabwe: Mugabe recognises youth unemployment as one of the biggest challenges facing the nation

Mugabe told about 5000 people at a memorial for fallen liberation leaders that if not addressed, youth unemployment and under employment would be a potential threat to national peace and security.

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Youth Unemployment Outlook – August 13th 2012

Arab youth unemployment is a complex and multidimensional problem.

An Islamic perspective on why Arab youth can’t find jobs.

Pakistan: the social and economic costs of youth unemployment are enormous

Pakistan’s Planning Commission says there is an urgent need to invest more in youth to utilise their energies and ensure their futures.

Mexico: Unemployment and insecurity are the greatest concerns to the youth

The National Institute of Statistics and Geography, on occasion of the World Youth Day said unemployment and insecurity worry young Mexicans.

Nigeria: Youth unemployment remains a constant irritant to successive administrations

With the huge number of graduates being produced yearly, the already saturated labour market can no long sustain the output.

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Youth Unemployment Outlook August 8th 2012

Inadequate job creation for school leavers remains a major challenge in Kenya

President Kibaki tells African leaders to invest in the youth as a way to become globally competitive in terms of human capital.

Ugandan billionaire launches mentorship portal

Ashish J. Thakkar, CEO of the Mara Group, says the Mara.com portal will nurture an ecosystem for youth while improving skills and emerging talent.

UK coalition government relaunches its flagship youth contract

Through government backed wage subsidies and other incentives, firms are encouraged to take on 18 to 24-year-olds and give them a leg up on the employment ladder.

 

 

 

Youth Unemployment Outlook – August 7th 2012

Do ILO regulations contribute to youth unemployment?

The African Development Bank has claimed that labour regulations were “excessively rigid” and contributed to youth unemployment.

South Africa’s DA presents plan to tackle youth unemployment.

This is the second in a series of five thematic plans to grow the nation’s economy and create jobs. Helen Zille’s party’s campaign to tackle youth unemployment includes a voucher scheme for potential entrepreneurs, a youth wage subsidy and a programme for apprentices.

Scotland’s youth jobless rate reaches 49 per cent

In March this year, Scottish Borders Council missed out on Scottish Government funding worth £9 million to tackle youth unemployment.

South Tyneside’s UcanB program tasked with tackle growing problems created by rising youth unemployment

The project is targeted at young adults who have left school with little or no qualifications.

In China prospects for educated workers gets worse

The Chinese media is rife with tales of overeducated young people taking jobs as cashiers, assembly-line workers, even “night soil collectors.”

 

 

 

Youth Unemployment Outlook – August 3rd 2012

African Youth and Governance Conference set to start on august 8th

The Youth Bridge Foundation will be hosting the 4th African Youth and Governance Conference

Lithuania: European Social Fund to support up to five thousand youth to find jobs

The Fund will back the government’s drive to help those with little work experience or are long-term unemployed.

South Africa: National Treasury says youth unemployment is at crisis levels

The unemployment rate among people under the age of 25 who want work is about 50 per cent.

US: South Carolina’s youth unemployment rate ranks 3rd worst in the country

South Carolina is ranked 46th in the US in overall unemployment with youth unemployment at 19.9 percent.

Youth Unemployment Outlook – August 2nd 2012

Ireland’s youth unemployment numbers fall slightly

The standardised unemployment rate was unchanged at 14.8 per cent.

Young Spaniards leave the country seeking a brighter future

With Spain’s unemployment rate for people under 25 at an astonishing 53 percent, many are seeking jobs elsewhere.

The latest African Economic Outlook warns about youth unemployment

Generation U will impact severely on the capacity of African states.

UK: Youth unemployment in Salford to be tackled head on

The new Salford Futures initiative, launched by City Mayor Ian Stewart will promote jobs and apprenticeships for young people.

The share of American 18- to 24-year-olds who were employed fell to 54 per cent last year

Picture of the Day: Youth Unemployment. From the Financial Times