Essay Example on Topic Youth Unemployment and Economic Growth Country

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Topic Youth Unemployment and Economic Growth Country Italy Committee ILO Italy is the only large European country where unemployment has risen in the past year Data for December 2016 show twelve per cent of the workforce up 0 4 percentage points from a year earlier Young people are the most affected with the unemployment rate rising the fastest among the under 25s over the previous year This contrasts with improving conditions in most of Europe About forty percent of young people are unemployed in Italy about two percentage points higher than last year Financial Times 2017 The debt Italy owes to the rest of Europe 25 of its GDP is so bad that a default would shatter the country cripple Europe with unpaid debts and wipe 0 4 off global GDP according to Oxford Economics analyst Taha Saei Business Insider UK 2017 The Italian economy has stagnated that recovery would take decades 



The Italians face uncertainty hence some of the country's largest corporate firms are getting set to slash jobs due to controversial political decision making and its worsening financial crisis Corruption and bribery static economic growth gender and generation gaps are the potential causes of youth unemployment Italy is deemed as the most corrupt country in Europe For many years Italy's economy has been slow to prosper so it fails to create new jobs Another thing gender and generation gaps are a national issue in Italy Unfortunately women do not have equal opportunities at work in politics at school or access to healthcare Women are more likely to be unemployed or work part time As part of their customs Italians are very conservative and racially aware hence the government is unable to encourage women to work The young Italians are also facing unfavourable labour market as the older workers aged above 55 stayed longer due to an extension of retirement age Poverty level has rocketed as a result of economic crisis and continuous unemployment 



The prolonged Italian economic crisis hit mostly the young generation and the faltering of the employment recovery is making their hopes and dreams fading A multitude of young people have grown frustrated Many are still living at home while others have left their families and moved abroad in search of work CNN Money 2017 Numerous Italian graduate are doing odd jobs unrelated to their degree to sustain themselves Over the last 20 years roughly a half million Italians aged 18 to 39 have moved to other countries especially to more economically dynamic European Union countries such as Germany France Denmark and the United Kingdom World Economic Forum 2016 Others moved to the United States of America in the hope of finding opportunities and start a better life Even those who have jobs have reasons to be unhappy and disappointed hence according to Eurostat Italy s young people are among the most dissatisfied with their jobs with many convinced that the best and high paying jobs are reserved for people with connection in the politics And indeed corruption still poses a major challenge for Italy Rome s last two mayors for example were forced out of office for malfeasance Page 1 of 2 Student ID 16022691 The new Italian government is desperately trying to come up with an effective strategy to deal with economic dilemma end the financial predicament and tackle youth unemployment at European standard

The Italian government must consider the potential of entrepreneurship in tackling unemployment amongst young generation Entrepreneurs believe that self employment can be an effective solution to the unemployment issue Entrepreneurs can possibly create new jobs and provide training to young people hence for a better and brighter future The congress delegates must develop a feasible approach to augment youth employment and create quality jobs with the support of employment agencies and business organisations The Ministry of Labour s Directorial Decree no 394 of 2 December 2016 applies nationwide and includes the implementation of a guarantee for young people TMF Group 2017 Italy will ensure to young people under 30 years of age a qualified job offer the continuation of their study an apprenticeship or an internship within four months of the start of their unemployment or from the end of their mandatory education period 



TMF Group Experts 2017 Meanwhile young Italians will continue to make a journey and try to build their future in a place where there is quality of livelihood References Edwards J 2017 July 20th The Sheer Scale of Italy's Debt Threatens Global GDP Retrieved from Business Insider UK http uk businessinsider com McFadyen S 2017 January 9th Youth Unemployment in Italy Skyrockets to 39 as Country Braces for Jobs Act Referendum Retrieved from Sunday Times https www express co uk Petroff A 2017 April 13th Europe's Lost Generation Young Educated and Unemployed Retrieved from CNN Money http money cnn com Roe A 2017 January 16th What Are Italy's Government's Priorities for 2017 Retrieved from Italy Chronicles http italychronicles com Romei V 2016 April 28th The Trials and Tribulations of Italy s Labour Market Retrieved from Financial Times https www ft com Subacchi P 2016 April 1st How Can Italy Reverse Its Brain Drain Retrieved from World Economic Forum https www weforum org TMF Group Experts 2017 March 15th Incentives for hiring young people in Italy Retrieved from TMF Group https www tmf group com Page 2 of 2


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