Youth Unemployment and its effect on the economy

Youth unemployment remains a critical socio-economic challenge with profound implications for the economy. This study explores the causes, impacts, and potential solutions to youth unemployment, drawing insights from a survey conducted among young individuals. The findings reveal that insufficient job opportunities, poor government policies, corruption, and a mismatch between educational qualifications and labour market demands are significant contributors to youth unemployment. These issues exacerbate economic challenges such as increased poverty, reduced consumer spending, and a decline in business activity. Moreover, high unemployment rates among the youth are linked to social instability, rising crime rates, and reduced government tax revenues. The study underscores the importance of targeted solutions, including investment in private sector growth, large-scale infrastructure projects, and skill development programmes tailored to the demands of emerging industries. Supporting entrepreneurship and reducing corruption in job allocation processes are also critical strategies for addressing the unemployment crisis. By implementing these measures, governments and stakeholders can mitigate the socio-economic consequences of youth unemployment, foster inclusive economic growth, and promote stability within society.

Author: Uche Nwafejoku

Publisher: Independently Published

Publication Date: Dec 19, 2024

Number of Pages: 110 pages

Binding: Paperback or Softback

ISBN-10: NA

ISBN-13: 9798304042109