Monday, 26 August 2013

Global youth unemployment reached 300 million people
Magazine "The Economist" calculates that the world's youth who neither work nor study, nor a kind of training is staggering 290 million, or about a quarter of the world's youth.
Unfortunately many of the "employed" young people have only informal education and fickle job. In rich countries more than a third of working-age young people work part-time, making it difficult to gain skills. Young people have long run a dead heat in the market. But now the problem is worse than before for two reasons. First, the financial crisis and its aftermath have an unusually large impact on youth. Many employers lay off first those last employed, so due to the recession grow unemployment among young people disproportionately.
The number of young people out of work is for nearly one-third greater than the number in 2007. Secondly emerging economies that have the largest and fastest growing population have the worst labor markets.

Why is this so important?

Many studies have shown that people, who begin careers without practice, probably in the future will have lower wages and are more likely in the future to remain jobless. Countries with the lowest rates have unemployment linkage tradition of education and work. Germany has long run tradition of higher education and internship in recent years that helped to reduce unemployment among youth despite modest growth. Countries with high rates of unemployment don’t have a tradition of study and internship. In the past, companies try to invest in an internship, today it is less common. The lack of practice may explain why in the last 5 years, youth unemployment in flexible economies like America and Britain has seen much growth compared to previous recessions.
It's hard for youth to remain optimistic with problem that destroys their future.
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