Youth Unemployment a Ticking Time Bomb

Youth have to cope with chronic unemployment a “ticking time bomb.”[i] Jeffrey Joerres, CEO of Manpower (MAN), a temporary-services firm with offices in 82 countries warns, “Youth unemployment will clearly be the epidemic of this next decade unless we get on it right away. You can’t throw in the towel on this.” A global problem is NEETs, youth not in employment education, or training—including an increase to 5.8 million in the US (the endnote includes suggestions for how to solve the problem).[ii] A UK charity reported that 27% of employed young people are often or always depressed, with the percentage rising to almost half for NEETs, in an era when youth unemployment is around 20%.[iii] Suicide rates are increasing. In the US, 5.6 million young people ages 16 to 24 are NEETs, causing $27 billion spent on public assistance, health care and incarceration in 2013.[iv] In response, businesses, governments and foundations formed the 100,000 Opportunities Initiative tin 2015 to provide jobs and apprenticeships to 100,000 young people over the following three years.

[i] Peter Coy, “The Youth Unemployment Bomb,” Bloombergy Businessweek, January 1, 2011.

http://www.businessweek.com/stories/2011-02-01/the-youth-unemployment-bomb

[ii] Elisabeth Jacobs, “Twelve Ways to Fix the Youth Employment Crisis,” Governance Studies at Brookings, May 2014.

http://www.brookings.edu/~/media/research/files/papers/2014/05/22%20youth%20unemployment/brookings_jacobsunemployment_to%20print.pdf

[iii] “UK: Half of Jobless Youth Suffering Depression,” Rebel Youth, January 30, 2013.

http://rebelyouth-magazine.blogspot.com/search/label/youth

[iv] Howard Schultz and Sheri Schultz, “Connecting Young People with Jobs,” New York Times, July 13, 2015.

http://www.nytimes.com/2015/07/13/opinion/connecting-young-people-with-jobs.html?_r=0

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