By Peter Vogel (auth.)
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Extra info for Generation Jobless?: Turning the youth unemployment crisis into opportunity
G. enter employment). From a legal perspective the definition of youth also varies with respect to reasons such as marriage, voting rights, land rights, criminal offences, and military service, among others. Consequently, countries vary considerably in their definition of youth and policies need to be customized to the local conditions. While Uganda defines youth from 12–30 years, Nigeria and Bangladesh define youth from 18–35 years. ” Most broadly speaking, a person is considered unemployed if he or she has not been working for a certain amount of time but would like to and therefore actively searches for a job.
With the highest youth unemployment rate in the world, a new type of development strategy, driven by entrepreneurship and innovation, is an imperative to sustain high economic growth rates in the region. Such a strategy needs to tackle the multifaceted challenges of bringing down the staggering youth unemployment rate in the region, a rate attributable to poor education systems, inadequate development of an entrepreneurial ecosystem supporting aspiring entrepreneurs, and many other broader macroeconomic challenges.
Europe The youth unemployment rate in Europe is disturbingly high. 7 While countries such as Austria, Germany, Norway, Switzerland, and The Netherlands have youth unemployment rates of less than 10%, countries such as Bosnia and Herzegovina, Croatia, Greece, Macedonia, Montenegro, Serbia, Spain have youth unemployment rates of greater than 40% (in Bosnia and Herzegovina, Greece, Macedonia, and Spain it is even greater than 50%). Similar to other developed countries, the recent economic crisis has hit European youth disproportionately hard, leaving roughly one in four without a job in 2012 (World Bank database).
Generation Jobless?: Turning the youth unemployment crisis into opportunity by Peter Vogel (auth.)