Reducing Youth Unemployment and Experiences of NEET through Enhancing Opportunities for Youth Entrepreneurship and Innovation

By Krista Flick

Krista represented Central Queensland University at the 2015 Y20 Summit in Turkey.

Recommendations 

  1. Youth unemployment should remain a priority of the G20 Leaders’ Summit in 2015, with a particular focus on the progress of each member’s Employment Plan.
  2. The G20 should recognise the significance of increasing rates of young people neither engaged in employment, nor in education or training (NEET), and take action to create sustainable employment opportunities for young people
  3. The Australian Government should investigate opportunities to encourage young people into entrepreneurship, including through the simplification of administrative and registration procedures associated with business start-ups, the inclusion of elements of entrepreneurship curriculum at all levels of education, facilitating collaborative partnerships between community organisations and private businesses, and reducing financial barriers that restrict young people from starting their own businesses.
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The Entrepreneurship Solution: Meeting the Global Youth Unemployment Crisis

The Entrepreneurship Solution: Meeting the Global Youth Unemployment Crisis

By Erin Watson-Lynn

Erin was a Global Voices Y20 Delegate for 2015

Abstract

Globally, some 75 million young people are unemployed. The International Labour Organisation warns that this is an unprecedented crisis. High levels of unemployment mean that young people across the developed and developing worlds face increased precariousness, poverty and uncertainty. The result of this is the threat of intergenerational inequality not seen since the Great Depression. Given the stubborn persistence of youth unemployment, more policy attention is clearly needed. The Group of Twenty (G20) leaders have made some commitments to address this crisis. One of these is to promote enabling environments for entrepreneurship. Entrepreneurship is an attractive policy proposition with some best practice examples. However, the macroeconomic impact of these policies is difficult to measure, and there is an absence of empirical evidence that has attempted to do so. This paper establishes youth unemployment as a crisis, describes how entrepreneurship can act as a possible solution, and provides two examples of frameworks for understanding the policy across varying environments. Finally, the paper offers three policy recommendations. 

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