Proposal
Defining youth unemployment…
Global youth unemployment, highlighted by the International Labour Organization, reached approximately 14% in 2023, affecting a staggering 69 million individuals worldwide (World Bank, 2024). This issue transcends borders, impacting both developed and developing nations and underscoring its global significance. Defined as individuals aged 15 to 24 actively seeking but unable to secure employment within the past four weeks (OECD, n.d.), youth unemployment presents multifaceted challenges for those transitioning from education to the workforce. Factors such as lack of work experience, mismatched skills, and limited access to networks and resources exacerbate the difficulty in accessing employment opportunities. Consequently, the repercussions extend beyond economic concerns to encompass mental health issues, including anxiety, diminished confidence, and a profound sense of hopelessness (Starting Point, n.d.). Given these profound implications, urgent and comprehensive interventions are imperative to address youth unemployment effectively.
“Youth unemployment is often higher than unemployment for the labour force as a whole. Younger people tend to have unemployment rates that are higher than the national average, partly because they generally have less work experience.” (Birchall et al, 2022). This inherent vulnerability underscores the importance of focusing on this demographic. Employment, entrepreneurship, and other income-generating opportunities often provide more than economic benefits – they provide youth with a purpose and a sense of status and belonging. Not to mention that the choices young people make today – which are influenced by the people and events around them – contribute to the possibility of peace, stability, and progress in their communities and some of the world’s most fragile places (Mercy Corps, 2020).
In selecting this issue, we recognize its critical importance in shaping the future trajectory of individuals and communities. Youth unemployment not only presents immediate challenges but also has long-term implications for social cohesion, economic development, and global stability. By addressing this issue, we aim to empower young people, harness their potential, contribute to building more inclusive and resilient societies, and align with the United Nations Sustainable Development Goals (SDGs).
Introducing STREET…
Our proposed solution to address youth unemployment is to revolutionize the educational experience by providing practical opportunities for students to gain valuable work experience and enhance their employability skills. We envision achieving this through Street, which will facilitate the participation of students in projects with renowned companies. By engaging in real-world projects, students can complement their theoretical learning with hands-on experience, thus better preparing themselves for the demands of the job market.
Our solution aligns with the United Nations Sustainable Development Goals, particularly Goal 1: No Poverty, Goal 4: Quality Education, and Goal 8: Decent Work and Economic Growth. By providing meaningful work opportunities, we contribute to poverty reduction (Goal 1) and promote economic growth (Goal 8) by empowering young people to secure gainful employment. Additionally, our emphasis on quality education (Goal 4) ensures that students receive a comprehensive learning experience that prepares them for successful careers.
In summary, our solution addresses the pressing issue of youth unemployment by offering practical opportunities that bridge the gap between education and employment. Through our initiative, we aim to empower young people to realize their full potential, contribute to sustainable economic development, and create a brighter future for themselves and their communities.
References:
Birchall, O. (2022). Introduction to Economics. University of London.
Spadmin. (2018). Youth Unemployment – Causes and Consequences. Starting Point. https://startingpoint.org.uk/topical/youth-unemployment-causes-and-consequences/
Unemployment – Youth unemployment rate – OECD Data. (n. d.). the OECD. https://data.oecd.org/unemp/youth-unemployment-rate.htm
What is the World Bank doing on Youth employment? (2023). Solutions for Youth Employment. https://thedocs.worldbank.org/en/doc/b3253b01b031a97e682d9e406bff28b4-0140022024/original/Youth-Employment-Portfolio-Review-January-2024-Final.pdf
World Bank Open Data. (2024). World Bank Open Data. https://data.worldbank.org/indicator/SL.UEM.1524.ZS?most_recent_value_desc=true