Proceedings of The 9th International Conference on Modern Research in Management, Economics and Accounting
Year: 2019
DOI:
Dimensions of the Youth Unemployment Problem within the European Union through the Last Decade
Taner Ismailov , Alexandrina Alexandrova
ABSTRACT:
The negative impact that youth unemployment has on the European Union’s economy is among the major problems faced by the Union in the last decade. In the economic space, there are many different approaches for examining the problem, but the authors of this study believe that to analyse the youth unemployment rate’s dynamics in the European Member States and to compare its’ values to the Average European youth unemployment rate is among the most efficient ways to get the “whole picture„ of the problem. Youth unemployment is an important indicator of a social, cultural and economic dimension.
Unemployed young people, whose main source of income are social assistance benefits and payments are among the poorest members of the society. Youth unemployment is a phenomenon that has a negatively impact on the labour market not only in the short but also in the long term. The lack of possibilities for young people to gain professional experience at a young age often creates prerequisites for their permanent exclusion from the labour market over the long term, which makes them “long-term unemployed”.
Еxamination of the youth unemployment problem goes through an analysis of the indicators rate dynamics, which allows researchers timely to identify, and on the other hand by prompting public discussion to ensure taking adequate measures on the employment policy pursued by the government. The significantly high youth unemployment rates within the European in the last decade require their governments to take actions to reduce it and to limit its long-term negative effects.
Keywords: Youth unemployment, Labor market, European Union.