The International Labour Organisation (ILO) reports that 40% of all young people in the 15-24 age bracket are without work. Globally that is a staggering 75 million people. That is equivalent to the whole of the United Kingdom being unemployed. However, it is not just a third world problem. We hear daily in the news about the problems that Spain and Greece are suffering, and this is reflected in their youth unemployment rates of 50%. But it is also hitting other parts of the world; such as the USA that now has 46% youth unemployment, and even the Middle East is catching up quickly. The situation is creating more and more pressure for the world’s leaders, already trying to juggle their economies with a global population that has just passed seven billion. The youth unemployment rate has always been higher that the overall unemployment rate, so what are the policy makers going to do? The advanced economies of the world are now finding it even harder to compete with emerging nations such as China and India because of the lack of people in the right jobs; organisations are falling behind in every respect.
It is an unfortunate fact that once people fall behind in terms of opportunities, they often find it difficult to claw their way back to where they ought to be, sometimes spending their
entire career playing catch-up. How does society view these people, in a day and age where we are judged by the job we have, and everything that goes with it, such as the car we drive, and the place where we stay? What is the knock-on effect for these people’s children, and what example are we setting for our kids to aspire too?
Many young people, having graduated from university, are either taking lower skilled jobs, or if they can get the job they are qualified for then the job market is squeezing them on salary. We often see that the young employed are those who get retrenched first when the organisation hits hard times. It is not just a domestic problem. In other parts of the world, the number of college graduates in lower-skilled jobs has risen to 36% from 27% just ten years ago. Corporate SA needs to support our young and invest in the future of our great country.
As always we appreciate your comments.
Alan de Sousa Caires Publishing Editor
Contact me:
alan@management-today.co.za www.linkedin.com/company/Management-Today-magazine-SA
June 2012 | Management Today 9
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106