10.10.

2022
Activity 1.39
Youth unemployment globally
According to global unemployment trend sin 2022 reports find that the
pandemic has exacerbated the labor market facing from ages 15 to 24.
These young people have experienced a high loss in employment since
2020. Young people are at particular risk of seeing their labour
opportunities. Young women are way worse than young men which have
a much lower employment ration. Young men are more likely to get
employed than young women.
Causes of youth unemployment globally
Financial crisis
Though the current youth unemployment crisis was not caused by the
financial crisis alone, the recession just made existing problems in labor
markets, education systems and other structures worse.
Skills mismatch
The skills mismatch is a youth unemployment cause that affects young
people everywhere. Young people end up experiencing a difficult
school-to-work transition. Businesses are unable to find new candidates
for their positions. They are not able to work their full potential.
Lack of entrepreneurship and life skills education
Lack of instructions in how to harness life skills most students already
have. Poor connections between the private sector and schools to
promote training and work experience.
Lack of access to capital
Young people who want to make their own jobs by starting businesses
often struggle to find access to affordable loans, or loans in general. This
is due to high interest rates also make it difficult for young people to
repay their loans on time.
A digital divide
In some low income, the skills mismatch is compounded by a lack of
access to technology or the internet. Schools are unable to afford tools to
educate young people. Also, these young people are at a disadvantage in
the job market.
Consequences of youth unemployment globally
Youth unemployment will have a serious impact if it is not resolved.
Unemployment can negatively impact a community growth a
development. If it is not resolved it can lead to other problems like social
exclusion, anxiety, lack of hope for the future. 90% of young people in
low-income nations not feeling that better life is possible can result in
millions of young people in poverty and frustration.
References
1.
https://www.ilo.org/global/about-the-ilo/newsroom/news/WCMS_85307
8/lang--en/index.htm
2. Youth unemployment causes and solutions (2015) Peace Child
International (Online) https://peacechild.org/youth-unemployment-
causes-and-solutions/ (accessed 9/10/2022)
3. https://www.mercycorps.org/blog/youth-unemployment-global-crisis

Worked by: Tedi Feto