Job losses pose sustainable threats to the qualities of lives in various aspects for the unemployed persons and their families. The insufficient economic system, low professional background, limited practice experience, unrealistic career expectations, and unfavorable attitude towards work are some of the significant issues that inform unemployment (Ayhan, 2016). Unemployment is a menace to various aspects of the economy, beginning from the government, organizations, through to the general public. In the United States, statistics gathered in 2019 revealed a reducing trend from 4.1% in 2018 to 3.8% in 2019 (International Labour Organization, 2017). High global youth unemployment rates can be mitigated through mediating efforts to avail adequate youth empowerment opportunities in the existing youth-oriented scales.
One of the significant discussions revolves around the lack of opportunities for the growing youth population, which is currently estimated at 1.8 percent (Thern, Munter, Hemmingsson, & Rasmussen, 2017). Youth organizations and ambassadors across the globe have raised concerns about this issue through broad channels such as the media and social networks. High rates of youth unemployment have also attracted considerable concerns among global leaders, leading entrepreneurs, activists, and policymakers (Uddin & Uddin, 2013). While it is believed that youth unemployment is an issue of the underdeveloped countries, developed countries such as the United States and the U.K. are significantly affected by this subject.
Delegate your assignment to our experts and they will do the rest.
The European Union faces considerable impacts on unemployment. In 2013, for example, the collective rates of unemployment across E.U. stood at 23%. Pervious statistics had shown a constant highest rate recorded at 58 percent, while the lowest ever recorded at 8 percent (O'Higgins, 2011). These trends serve a clear indication of how economic opportunities continue to depart from the young population (Jacobs, 2014). Expert opinion supported with a massive wealth of research purports that investing in development programs oriented to the interests of youths could be a sustainable approach to increasing youth participation in the global economy.
Global youth unemployment stands tall among the critical global issues of discussion due to its impacts on government planning, employing organizations, and the general public (Awad, 2019). There is a need for governments, policymakers, and entrepreneurs to initiate programs that present long-term career opportunities for young people. The only sure way to achieve this is by investing more in youth empowerment programs.
References
Awad, A. (2019). Economic Globalisation and Youth Unemployment – Evidence from African countries. International Economic Journal, 33 (2), 252-269. doi:10.1080/10168737.2019.1604787
Ayhan, F. (2016). Youth unemployment as a growing global threat. Actual Problems of Economics, 7 (181), 264- 267.
International Labour Organization. (2017). GLOBAL EMPLOYMENT TRENDS FOR YOUTH 2017: Paths to a better working future. Geneva: International Labour Organization.
Jacobs, E. (2014). Twelve Ways to Fix the Youth Unemployment Crisis. In J. Bleiberg, Governance Studies (pp. 1-7). Massachusetts Ave., N.W.: The Brookings Institution.
O'Higgins, N. (2011). "Youth unemployment and employment policy: a global perspective. Munich: University Library of Munich.
Thern, E., Munter, J. d., Hemmingsson, T., & Rasmussen, F. (2017). Long-term effects of youth unemployment on mental health: does an economic crisis make a difference? Epidemiology and Community Health, 71 (4), 241-249. doi:10.1136/jech-2016-208012
Uddin, P., & Uddin, O. O. (2013). Causes, Effects, and Solutions to Youth Unemployment Problems in Nigeria. Journal of Emerging Trends in Economics and Management Sciences, 4 (4), 849-867.
