Job Market Monitor
Youth
US – 40% of unemployed workers are millennials
The jobs market is improving, according to government data released Thursday, but millennials are still left out in the cold. They’re suffering more than any other age group, new research finds. Some 40% of unemployed workers are millennials, according to an analysis of U.S. Census data by the Georgetown University Center on Education and the … Continue reading
Youth in US – 5.8 million young people are neither in school nor working
It makes some sense that young people might work less than their older counterparts. They are figuring out their lives, going in and out of school and making more short-term plans. But a whopping 5.8 million young people are neither in school nor working. It is “a completely different situation than weve seen in the … Continue reading
Merkel – EU’s youth unemployment initiative doesn’t work
During the EU’s Council summit, German Chancellor Angela Merkel admitted during the EUs Council summit that the EU’s Youth Employment Initiative YEI, launched a year ago, has so far been a failure. Asked by journalists during her press conference Friday afternoon 27 June, Merkel said that youth unemployment is “clearly” one of the areas that … Continue reading
US – Most graduates have changed careers once by the age of 24
Most of today’s graduates have already changed careers at least once by the age of 24, new research has found. So if you’ve started your career and are already thinking about quitting, you’re in good company. This is also good news the Class of 2014, who may be worried about making a ‘mistake’ when choosing … Continue reading
Africa – To provide employment to 200 million people aged between 15-24
Approximately 1 billion people live in the world’s second-largest continent. Only Asia has more people but Africa now has the fastest growing population. If current trends continue, the number of Africans will rise to 1.4 billion in 2025 and to 1.9 billion in 2050. A third of the babies born in the world will be … Continue reading
Canada – Aging population could have a positive effect on the labour market outcomes of youth research finds
Post-recession it is common to hear concerns that youth, facing high unemployment rates, are unable to find good job opportunities. Historically, youth have experienced higher unemployment rates than older workers. In the context of an aging workforce dominated by the baby boom generation and delayed retirement, there appears a general concern that older workers are … Continue reading
France – The first EU country to receive funding from the Youth Employment Initiative
France has become the first EU country to receive funding from the Youth Employment Initiative YEI to tackle unemployment among young people. The European Commission will make funding available so that France can receive €620 million from the YEI and the European Social Fund ESF. The money will go towards helping young people who not … Continue reading
India – Every year 12 million young Indians will arrive in the job market: where are the jobs ?
I am constantly surprised at how often in conversations with thoughtful people this statistic is brought up: that, from now on for the next decade, every year 12 million young Indians will arrive in the job market. And this additional statistic is brought up too: that in the past few years, the organised sector in … Continue reading
Australia – Youth long-term unemployment has more than tripled since 2008 says a report
The number of young Australians who are unemployed for longer than a year – referred to as long-term unemployment – has more than tripled since 2008. The alarming new analysis of Australian Bureau of Statistics data released today by welfare group the Brotherhood of St Laurence reveals more than 50,000 people aged between 15 and … Continue reading
Digital Skills in UK – Education failing say 18 to 30-year-olds
The education system is failing to provide young people with the digital skills they need to succeed in the world of work, according to 18 to 30-year-olds. The research, compiled by Tata Consultancy Services and ThinkYoung, found 63% of the 500 young people surveyed in 28 EU countries don’t believe education prepared them for the … Continue reading
Germany – A programme targeting 18 to 35 year olds young unemployed is shut
Germany said on Monday it would no longer accept applications for a programme to attract young Europeans to its job market due to overwhelming demand from crisis-ravaged countries. The labour ministry said it had been flooded with interest from job-seekers particularly from struggling Spain and Hungary for the scheme offering subsidized job training, apprenticeships and work in … Continue reading
Youth Unemployment in UK – Rethink the way European funding is used says a House of Lords report
Youth unemployment has left “a generation scarred”, according to a House of Lords report out today. With the rate of young jobless in the EU still at nearly double its pre-crisis level, and the UK experiencing exceptionally high levels of unemployment, the report calls on the Government to rethink the way it uses European funding. … Continue reading
Youth Unemployment In Europe – A misdiagnosis
The EU underestimated just how big an impact the austerity measures would have on the economies of the member states. Europe’s economy remains relatively closed, which means that countries rely on trade with each other, so when countries all start to tighten fiscal policies at the same time, the impact is multiplied. Not surprisingly the … Continue reading
Korea – Youth unemployment blues
Key economic indicators seem to point toward Korea making a solid recovery. The country’s output has been growing thanks to exports. Its consumer spending has picked up on the back of growing welfare financing by the government. Still, Asia’s fourth-largest economy is finding it hard to create jobs for college graduates, even while they pull … Continue reading
Youth Guarantee in Europe should be a joint effort
Last year, as part of the Multiannual Financial Framework (MFF) 2014-2020, EU leaders agreed to provide an additional €6 billion to support employment of people under the age of 25. The so-called Youth Employment Initiative (YEI), or Youth Guarantee scheme, now plays a crucial role in the EU labour market, with the additional funding frontloaded for the first … Continue reading
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