Unemployment and Lack of Economic Opportunity

Comprehending the global rates of unemployment is imperative for the search for worthwhile solutions to become effective. Unemployment and the lack of economic opportunity is linked to low professional job skills, inexperience, unrealistic job expectations, and poor attitude as associated causal factors (Painter, 2019). In the United States, the rates of unemployment have hit a new 30-year low (Bersin, 2018). The high rates of global youth unemployment can be remedied by ensuring advancements in existing youth economic opportunity agendas as well as investing in additional programs.  Unemployment and the lack of and economic opportunities for youth under the age of 25 is one of the most talked about social issues today. The matter has attracted interest from global leaders, entrepreneurs, researchers, and policy makers alike. Contrary to popular belief, youth unemployment is not only characteristic to developing and emerging economies. The subject spreads across all the continents.  According to Gontkovičová, et al. (2015), the 2013 rate of youth unemployment in the EU 28 was 23%. Considering that the lowest and highest rates in the continent were 8% and 58% respectively, these statistics show how economic opportunities continue to evade the youth. However, research indicates that youth unemployment can be tackled by investing in youth economic opportunity programs (Nassetta, 2016). These programs can help close youth skills gaps by availing training opportunities through collaborations between governments, NGOs, learning institutions, and private investors. The aim is to create long-term employment opportunities. In conclusion, youth unemployment continues to become a global issue. The creation of long-term career opportunities is required. This can be achieved by investing in additional youth economic opportunity programs. 

References

Bersin, J. (2018, July 4). The ugly side to today's low unemployment rate. Retrieved from https://www.forbes.com/sites/joshbersin/2018/07/03/the-ugly-side-to-todays-low-unemployment-rate/#4da43ff83e99 Gontkovičová, B., Mihalčová, B., & Pružinský, M. (2015). Youth unemployment–current trend in the labour market? Procedia Economics and Finance, 23, 1680-1685. Nassetta, C. J. (2016, September 5). There's a global youth unemployment crisis. Here's what we can do about it. Retrieved from https://www.weforum.org/agenda/2016/09/theres-a-global-youth-unemployment-crisis-heres-what-we-can-do-about-it Painter, S. (2019). Unemployment causes and consequences. Retrieved from https://jobs.lovetoknow.com/Unemployment_Causes_and_Consequences