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EU release further details on Youth Guarantee

by on September 17, 2014

The EU has today issued a press release outline further details (including funding) for the EU Youth Guarantee noting that a similar broader initiative is under consideration by the G20.

The EU Youth Guarantee aims to ensure that across member states those under 25 are offered specific help and assurances to find employment.  Specifically the guarantee states that “Member States should ensure that, within four months of leaving school or losing a job, young people under 25 can either find a good-quality job suited to their education, skills and experience or acquire the education, skills and experience required to find a job in the future through an apprenticeship, a traineeship or continued education”. 

The EU press release highlights the following EU figures:

  1. Over 5 million young people (under 25) were unemployed in the EU-28 area in July 2014.

  2. This represents an unemployment rate of 21.7% (23.2% in the euro area). More than one in five young Europeans on the labour market cannot find a job; in Greece and Spain it is one in two. This means that around 10% of the under 25 age group in Europe are unemployed.

  3. 7.5 million young Europeans between 15 and 24 are not employed, not in education and not in training (NEETs).

  4. In the last four years, the overall employment rates for young people fell three times as much as for adults.

  5. The gap between the countries with the highest and the lowest jobless rates for young people is extremely high. There is a gap of nearly 50 percentage points between the Member State with the lowest rate of youth unemployment (Germany at 7.8% in July 2014) and with the Member State with the highest rate, Spain (53.8% in July 2014). Spain is followed by Greece (53.1% in May 2014), Italy (42.9%), Croatia (41.5%), Portugal (35.5%) and Cyprus (35.1% in June 2014).

The press release acknowledges that not all EU states are equally ready to implement the new policy and structural reform will be required in many countries.  Pilots are currently running across seven countries (including the UK) to trial various reforms.

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