TUESDAY. The Changing Global Environment.

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TUESDAY. The Changing Global Environment.

  1. 1. The youth employment challenge • By 2015 there will be 3 billion people in the world under 25 • Young people are 2-3 times more likely to be unemployed than adults and are not the target population for microfinance • Youth ‘bulge’ still affecting many countries Total number of unemployed youth in the world likely to top 100 million in 2009, with over 300 million underemployed (Source: ILO)
  2. 2. Creating Opportunities • More than half the companies on the 2009 Fortune 500 list were launched during a recession or bear market • From 1980-2005 firms less than 5 years old accounted for all net job growth in the USA • In the UK SMEs account for 99.9% of all enterprises, 59% of private sector employment & 52% of private sector turnover • In India SME’s account for almost 50% of exports • Challenges and opportunities provide -
  3. 3. A Wake-Up Call
  4. 4. The Commonwealth There are over one billion young people living in Commonwealth countries. The recommendations from last year’s Commonwealth Youth Forum that was presented to the Heads of State included • Governments should create a more enabling process for youth to set up businesses and, where necessary, legislate to support youth entrepreneurship • Governments should improve youth access to credit, advice, mentorship, technical training and service exchange partnerships. As the demand from youth increases a Youth Development Bank should be established • Governments should encourage banking institutions to formalize youth friendly lending policies with preference given to new and existing entrepreneurs.
  5. 5. The EU To this end, young people need more opportunities to have entrepreneurial experiences, to receive support and guidance on business plans, access to start-up capital and coaching within the starting period. • The new EU Youth Strategy, “Europe 2020”, involves 7 main projects. 1 of the 7 is “Youth on the Move”, which itself includes 4 main actions: • 1. Strengthening lifelong learning • 2. Increasing the quality and responsiveness of higher education • 3. Supporting learning mobility across the EU e.g. new website • 4. Improving the employment situation of young people e.g. a Youth Guarantee to ensure all young people are in a job, in education or in activation, and supporting young entrepreneurs
  6. 6. Multi-nationals On 13 September the ILO & IMF jointly hosted a conference focusing on: ‘The Challenges of Growth, Employment and Social Cohesion’. • “When growth is not fair, it becomes unsustainable,” said ILO Director-General Juan Somavia. “This has been the overriding lesson of the crisis. High levels of employment creation should be a key macroeconomic objective alongside low inflation and sustainable budgets. • The IMF and ILO agreed at the conference to work together on policy development in two specific areas: • • First, they agreed to explore the concept of a social protection floor • • Second, the two institutions will focus on policies to promote employment- creating growth • G20 successes – more information will follow later
  7. 7. Multi-nationals On 13 September the ILO & IMF jointly hosted a conference focusing on: ‘The Challenges of Growth, Employment and Social Cohesion’. • “When growth is not fair, it becomes unsustainable,” said ILO Director-General Juan Somavia. “This has been the overriding lesson of the crisis. High levels of employment creation should be a key macroeconomic objective alongside low inflation and sustainable budgets. • The IMF and ILO agreed at the conference to work together on policy development in two specific areas: • • First, they agreed to explore the concept of a social protection floor • • Second, the two institutions will focus on policies to promote employment- creating growth • G20 successes – more information will follow later

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