Abstract
This essay aims to discuss the conditions for a successful implementation of the European Youth Guarantee in Italy. In principle, the program should be able to affect the frictional and mismatch components of unemployment, if not the Keynesian and neoclassical ones, as the experience of Scandinavian countries suggests. However, this requires an in-depth transformation of the entire school-to-work transition system, involving not only public employment services, but also educational and training systems. To tackle the Keynesian and neoclassical components of unemployment, instead, it is vital to rethink European austerity and reduce the labor wedge.
Highlights
1 Introduction Young people are bearing most of the social cost of the current economic and financial crisis, especially in the Southern and Eastern European member states of the European Union (EU)
Based on a proposal originally formulated by the European Socialist Party, the EU Parliament and the other EU institutions have approved a program called European Youth Guarantee (EYG since ), which implies the “obligation” for each member state to provide young people with a job, training or educational opportunity within four months from the beginning of their unemployment spell
Without expansionary fiscal and monetary policy at the EU level, structural reforms may be ineffective in combating youth unemployment
Summary
Young people are bearing most of the social cost of the current economic and financial crisis, especially in the Southern and Eastern European member states of the European Union (EU). The government is planning to attribute control of the program to the soon to be found national agency for employment services; b) Against the EU suggestions, the 4 months of the guarantee are computed from the signing of the deal between PES and program participants, but, much more time is used for the few who participate in the program; c) Official websites report job vacancies which were already published elsewhere and often are not for young people, but require several years of work experience; d) The authorities consider paying any deal, those who survive after some months; e) Despite the EU promotion to invest especially in apprenticeship contracts, only 4.5% of the funds are used for that, and some regions do not spend any money for apprenticeship (e.g., Liguria, Piedimont, Sardinia and Veneto). This confirms the lack of interconnectedness between educational institutions and the world of work
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