Abstract
The presented article follows the research mainstream of econometric analyses focused on the assessment of correlations between youth unemployment rate and market and macroeconomic determinants, including economic growth and productivity of the economy, its structure in terms of NACE Rev.2 sections as well as the labor market tools. The research addresses 28 European Union (EU) countries. The analysis period covers the years 2008–2018. The econometric methods dedicated to panel data were used. The research results confirm the importance of the general economic condition as well as the development of knowledge-based economy for the improvement of the youth situation in the labor market. With regard to the economy structure, the development of manufacturing section importance turned out to be a major factor in female youth unemployment rate reduction. The growing importance of the construction sector translated into a decline in the unemployment rate among young men.
Highlights
IntroductionCertain groups (including women, young people, people with disabilities, youth with migrant background), which are exposed to the risks of unemployment, long-term unemployment, early school leaving or inactivity, have been experiencing an increasingly difficult situation in many countries over the years
Certain groups, which are exposed to the risks of unemployment, long-term unemployment, early school leaving or inactivity, have been experiencing an increasingly difficult situation in many countries over the years
The regions featuring high share of scientists and engineers in active population (%) constitute a more favorable place for young people to take up professional activity (Bal-Domańska 2018). These results suggest that the development of innovative approaches and modern sectors create strong economic conditions, which are reflected in an improved situation of young people
Summary
Certain groups (including women, young people, people with disabilities, youth with migrant background), which are exposed to the risks of unemployment, long-term unemployment, early school leaving or inactivity, have been experiencing an increasingly difficult situation in many countries over the years. It initiated the debate in scientific literature as well as national and international economic policy, including the European Union (e.g., European Commission 2011). The econometric methods dedicated to panel data were used to characterize relations between the determinants of domestic markets and the situation of young people It allowed for including the country-specific unobservable effects in the conducted analysis
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