EU Youth #Unemployment. Would world’s best practices help?

| February 2, 2018 | 0 Comments

On January 31st Eurostat presented updated unemployment rates for the EU and the euro area. While the key indicator remains stable on the level of 7.3% for the EU-28 at the end of 2017, one of the main challenges for the Union in the upcoming years would be tackling youth employment. More than 16% of the Europeans between 15 and 24 were jobless in December 2017. This rate doubles the average unemployment rate in the EU.

“Youth integration into the jobs market is a succession of trial and errors that usually requires several trips back to unemployment before finding the right job”, said Stephane Carcillo, an expert at the Organisation for Economic Cooperation and Development.

The EU labour environment reflects the global human resources market trends where employer tends to favor a candidate with unique skills and sufficient sectoral expertise. As a result, the youth unemployment rate would always be higher than the average rates. Young people account for over 35% of the unemployed population worldwide in 2017. According to the UN’s International Labour Organization (ILO), the average global youth unemployment rate slightly exceeds 13% and is expected to rise further in 2018. As provided by the ILOs late 2017 calculations, more than 70 mln young people worldwide will be out of work in 2018. Recognition of the scale of the problem is essential for the efficient solution approaches development.

“Addressing these persistent labour market and social challenges faced by young women and men is crucial, not only for achieving sustainable and inclusive growth, but also for the future of work and societal cohesion”, says Deborah Greenfield, the UN’s ILO Deputy Director-General for Policy.

The UN’s ILO focuses on the establishment of efficient cooperation with key international stakeholders to ensure the set up of sustainable labor programs and agile approaches to employment that then may be globally localized. The organization is committed to the tripartite communications between the governments, and member states’ workers.

Tripartism efficiency can be exemplified with the LUKOIL international oil company cooperation with the UN ILO. LUKOIL annually employs over 8000 young workers. The company has 43 787 professionals aged under 35 in its operational regions, including European facilities. Their share is 40% of the LUKOIL staff. At the PETROTEL-LUKOIL refinery in Romania the number of such professionals has increased by 70% through the last 5 years.

The refinery’s youth workers council stimulates Ploiesti’s Oil and Gas University graduates technical research and is engaged in cultural affairs, personal and professional development of the company’s newcomers.

The UN’s ILO and LUKOIL have been cooperating since 2012 through a number of common activities aimed at the policies that enhance efficiency, promote decent youth workplace development, etc. The company’s young professionals’ integration approach on the CIS, Eastern and Central European markets will contribute to the ILO’s global policies.

In 2017 the ILO and LUKOIL have signed an agreement to continue cooperation on youth employment initiatives from 2018 to 2022. The Director-General of the International Labour Organization mentioned at the signing ceremony, that:”The youth employment crisis reflects a huge decent work deficit in societies worldwide and one of the main challenges of our time. We have the unique opportunity to partner in order to scale-up action on youth employment and tackle this crisis head on”.

”We’re committed to the youth professional development and modern educational and practical training programs implementation. Through the 26 years of the LUKOIL’s history we have been keen on building up of the team, consisting of professionals and likeminded people, therefore this is a vital development direction”, said Vagit Alekperov, PJSC LUKOIL President and CEO.

Thus, despite the positive trend on the European labor market, youngsters’ adaptation to the human resources market remains one of the great challenges for the EU. Youth employment betterment requires tripartite cooperation between the EU-28 governments, local and international business, and worker unions. Current efficient multinational tacks, able for regional scaling, give hope for the positive trend development both in the EU and the whole world society.

 

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