Youth job skills are fostered by quality education systems and employers that invest in human capital, and are the key to thriving markets that develop individual potential and offer long-term pathways out of poverty. Investment in youth job skills by public and private systems develops society’s next-generation contributors, and is a critical lever for development in low-income areas.
Youth unemployment has direct implications for political stability, regional violence, and poverty levels globally.i There are currently a larger number of young people in the world than ever before in history, and youth bulges, population growth and urbanization are changing the global job landscape at a rapid pace.ii It is estimated that reducing the youth unemployment rate by 1% would add $75 billion to the global economy.iii
Public education systems and private markets equip society’s youth with skills, job pathways, and ambitions to succeed as valuable members of society. Quality public education systems incorporate 21st century skill sets into curricula, while private markets invest in young talent through job training and long-term growth paths. As a result, healthy local markets offer equal access to quality, secure employment, and entrepreneurial opportunities for every youth.