Trends and Global Initiative ( TGI )
The world is experiencing one of the most extraordinary periods in history. The power equation continues shifting across countries and regions, while rapid changes unfold in the marketplace reshaping both the political landscape and the interactions between governments and businesses. The financial crisis, combined with rising inflation and the consequent slowdown in global demand, has engendered significant insecurity about the outlook of the world economy.
One of the main problems facing by globally is unemployment. Youth unemployment has become the biggest developmental challenge in almost every country in the world in the 21st century. The high unemployment rate of university graduates nowadays is a real worry among students and policy makers. Within the fresh graduates scenario it is dynamic, segmented and critical. Unemployment among youth is twice as high as adult unemployment and unemployment among young females is higher than among their male counterparts.
Despite the anxiety over unemployment and bleak future, many are still trudging the path to pursue a coveted degree, in the hope that they will land a promising job with good pay. Such were they expectation in their life. Simple as it is seemed:
- Many of the graduates are actually without any real planning regarding their life.
- Unsure of their future direction, many seemed to put their life and future in the hands of fate itself.
- Should fate is not treating them kindly; they will put the blame on it and complaint about everything around them.
The current very high levels of youth unemployment rate call for a greater focus on economic development, including enhancing the levels of entrepreneurship, ethical cultural and corporate governance; In common with many other transition economies, young entrepreneurs are perceived in a very poor light by society as a whole; The levels of entrepreneurship and corporate governance practice in the country, as illustrated by issues such as the self-employed per capita or the number of SMEs per capital, are low by comparison with other countries.
Counter Solution
In an attempt to develop economies, stem youth unemployment and youth poverty and create wealth among youth, several organizations and countries have adapted the concept and philosophy of youth entrepreneurship development. In order to realise greater employment opportunities, the dynamism of the SMEs sector and a higher level of entrepreneurship must be stimulated in the country.
The methodology of youth entrepreneurship development is focused on building a culture of entrepreneurship among a nation’s youth by encouraging, nurturing and socializing young men and young women into recognizing entrepreneurship as a viable career choice and assisting them with the necessary tools to start and grow sustainable business ventures.
Current Situation
Youth unemployment has become the biggest developmental challenge in almost every country in the world in the 21st century. The high unemployment rate of university graduates nowadays is a real worry among students and policy makers. Within the fresh graduates scenario it is dynamic, segmented and critical. Unemployment among youth is twice as high as adult unemployment and unemployment among young females is higher than among their male counterparts.Despite the anxiety over unemployment and bleak future, many are still trudging the path to pursue a coveted degree, in the hope that they will land a promising job with good pay. Such were they expectation in their life. Simple as it is seemed, many of the graduates are actually without any real planning regarding their life.
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