Celebration of Scholars
Global Youth Unemployment
Name:
Vivian Onano
Major: Business Administration
Hometown: Nairobi
Faculty Sponsor:
Other Sponsors:
Type of research: Course project
Funding: N/A
Abstract
Youth unemployment has risen to be a major crisis in every corner of the world. The rate of unemployment currently stands at 12.6% compared to 4.5% of global adult unemployment. Youth between the age of 15 and 24 make up 11% of the world’s population. 87% live in developing countries. Having such a high population unemployed has a direct negative implication on each country’s economy.
While other studies view this phenomenon as a liability, in our work we view it as an opportunity. We view the phenomenon through the lenses of our economics training, focusing on the MENA (Middle East and North Africa) region, which has the highest youth unemployment rate (about one youth in four are jobless). There has been a lot of revolution going on in this region coupled with wars and the youths are directly affected. The education systems are very poor due to political instability thus the youth do not have the desired skills needed to be hired.
Apart from unemployment, underemployment is also an issue. Our research determined that active labor policies and programs, improvement in social protection for the young people, encouragement of social dialogue and partnerships for youth employment, improvement of macroeconomic and growth policies, and strengthening labor markets information and analysis systems all aid in helping to alleviate this very important problem.