FACTORS INFLUENCING YOUTH EMPLOYMENT IN EU

Abstract

Youth unemployment is not only a challenge in Europe but also a global issue, with varying degrees of severity across different countries. The causes and potential solutions for youth unemployment differ widely, highlighting the need for tailored approaches. Given the long-term risks associated with prolonged unemployment, addressing this issue is crucial, as young people represent the future potential of every nation. This topic has garnered significant media attention and has been a prominent discussion point in various business and policy forums. Within the European Union, youth unemployment is a high priority on the policy agenda. The European Commission has recently launched the “Youth Opportunities Initiative” to support unemployed young people. This initiative aims to provide funding for apprenticeship and entrepreneurship programs, facilitate company placements, and offer guidance for young individuals with business ideas. Current levels of youth unemployment need to be understood in the context of increased labor market flexibility, an expansion of higher education, youth migration, and family legacies of long-term unemployment. Compared with previous recessions, European-wide policies and investments have significantly increased with attempts to support national policies. We argue that understanding youth unemployment requires a holistic approach that combines an analysis of changes in the economic sphere around labor market flexibility, skills attainment, and employer demand, as well as understanding the impact of family legacies affecting increasingly polarized trajectories for young people today.