Existing research shows that the failure to give young people the opportunity for a successful school-to-work transition can lead to long-lasting “scarring” effects, including future joblessness, lower life-time earnings, and negative consequences on their physical, emotional, and mental wellbeing.
The underutilization of human potential is also costly for societies at large. High youth un- and underemployment reduce economic growth and government revenues, and young people’s frustrations can have negative effects on social cohesion and political stability.
The COVID-19 pandemic has brought up shocks on both the youth labour demand and supply and, based on the experience of the 2008 financial and economic crisis, we can expect lasting negative impacts on youth unemployment and rather slow recovery in the long-term unemployment rate among young people.
The lack of quality employment is also considered one of the key drivers for young people to migrate, either within their countries or internationally.
=> Decent Jobs for Youth Impact Report 2021. Global Initiative on Decent Jobs for Youth, Geneva: ILO, 2021
=> Kluve J, Puerto S, Robalino D, Romero J M, Rother F, Stöterau J, Weidenkaff F, Witte M. Interventions to improve the labour market outcomes of youth: a systematic review of training, entrepreneurship promotion, employment services, and subsidized employment interventions. Campbell Systematic Reviews 2017:12 DOI: 10.4073/csr.2017.12
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