Over the past several years the news media has reported on the doom and gloom aftermath of the global economic crisis that has impacted young America and the world. Primarily the headlines cast shadows on a plight of epic proportions, “Global Youth Unemployment Rate Staggeringly High: ‘Lost Generation’ Feared.”
And while policy makers, thought-leaders and young entrepreneurs agree that we must overcome the youth unemployment epidemic and #FixYoungAmerica, who’s really up for the task at hand?
Is it you … will you save us?
The Problem
According to a United Nations World Youth Report, “The global youth unemployment rate, which has long exceeded that of other age groups, saw its largest annual increase on record in 2009; at its peak, 75.8 million young people were unemployed.”
Across regions, young people are disproportionately affected by unemployment, underemployment, vulnerable employment and working poverty. Even during periods of economic growth, many economies have been unable to absorb large youth populations into the labour market. In recent years, however, the global financial and economic crisis has further hit young people particularly hard in the developed world.”
Essentially, the world’s bright young minds bear the brunt of this economic burden. And some fear that current trends offer little to no hope on the job creation front, as supply continues to outweigh demand for young America’s labor force.
What’s to blame? Is it a lack of skill set, a deficient educational system, discord between education and labor market needs, a shortage of self confidence and self esteem, or simply a structural lack of opportunity?
These questions plague our government and leave us, young America, “holding the bag.” Yet one simple idea could spark massive change – entrepreneurship.
Is it a viable solution? Young America’s entrepreneurs think so.
