The Problem of Unemployment in Educated Youth

 

The Problem of Unemployment in Educated Youth

 

After spending half a day in the halls of IT companies and software companies, Rajat returns home in the evening to reopen his laptop to apply for additional jobs and secure future interview dates. Rajat's state of unemployment is not his alone. Worldwide over the past decade there has been a crisis of youth unemployment around the world.

Youth unemployment, unemployment rate

Be busy with life or be busy with death.

The more you study, the more likely you are to become unemployed. It seems controversial or against common sense but it is true.

Who are the "uneducated" youth? Where and since has this been a problem?

There are 1.2 billion little people in the earth (among the ages of 15-24) - secretarial for 17% of the world's inhabitants. Among them, those who have no education, employment, or training but who are actively seeking employment are described as “unemployed” by the United Nations.

Youth unemployment rates are often higher than the average adult population in almost every country in the world. - Source

Although the global economy has grown steadily over the past two decades, young people today are less likely to get decent work than those who entered the labor market in 1995. According to the International Labor Organization (ILO) there are 71 million unemployed young people worldwide.

Unemployment of educated people from 1995 - 2015, youth unemployment

Youth unemployment rates 1995-2015

This problem is widespread in both developed and developing countries. Graduate students and young people who have completed their second course make up the majority of the unemployed. Among the OECD countries (Organization for Economic Co-operation and Development); in cities such as Britain and the United Kingdom; 1 in 5 young people do not get a job. Those who work, are mostly employed as temporary or on-the-job contractors - most of whom are paid little or no pay. Therefore, many rely on their parents until they reach the age of twenty. As a result, many graduates are now skeptical of the need to enter into large student loans for nonprofits in the job market.

Graduate unemployment rate, youth unemployment

Similarly, among the developing world, such as India, unemployment is increasing at an alarming rate. But when it comes to bias, it is clear that women face higher levels of unemployment compared to their male counterparts at all levels of education. In addition, South Asian women do not work after higher education for cultural reasons.

Those who have a well-to-do family usually stay with them until they can find suitable employment that allows them to support themselves. Others get jobs that they do not deserve or that they do not enjoy. It was so in September 2015 when the Ph.D. the owners applied for the position of secretary of state of Uttar Pradesh in India. While well-educated people are fighting for less-than-ideal jobs, the poor face 22 situations. I.e They need higher education to earn more money but they need more money to get higher education.This is a situation where they need better education to get better pay but they need better pay to get a better education.

Source

Causes of inefficiency

There are many causes for this problem. Quality and appropriateness of education, a stable labor market and regulations, which create a climate of aid and dependency, a significant economic downturn in a number of developing countries to name a few.

Skills problem

Universities and private institutions are empowered to provide courses and skills that meet the needs of the industry - however this is not the case. In almost every country, education does not meet the needs of the labor market. This leads to young people being unable to find jobs and failing to employ the skills they need. Combined with the economic crisis and the lack of job creation in many countries this has resulted in high levels of global unemployment and the development of a skills crisis. You can check out our previous article of Unemployed Engineers highlighting this skills gap very clearly in the Indian story.

As the International Commission for Financing Global Education Opportunities reported last year, nearly 40% of employers worldwide find it difficult to hire the skilled people they need.

Graduate unemployment rate, youth unemployment

Labor markets and ineffective guidelines

Employers are careful to hire full-time employees because they will not be easily fired in the long run if they are found to be incompetent due to the high level of employment protection.

This has led to an impending increase in the number of part-time jobs such as internships, temporary contracts, and part-time jobs that have created a crisis for young workers. This is because their jobs are part-time and these young people used to be the first to be laid off if the company lowered the standard. And if they are retrenched, they do not qualify for retrenchment payments because of their short tenure. So once that job is done, they will find themselves unemployed and denied employment opportunities. To start over again some youths, however, take up part-time work during college. This rate is lower in countries such as Italy, Spain, and France but in the United States, about one third of the students cover education and employment.

This, however, has highlighted the legitimacy of the internship. The purpose of the internships

Unemployment in Educated