Global youth unemployment is on the rise again because of the global pandemic ravaging the world today and young people are likely to be disproportionately affected by the economic fallout from COVID-19. As a result, they are far more pessimistic about their employment prospects and believe that they are more likely to lose their jobs soon.
With little or no social protection available in the world’s developing countries, very few people can afford to be unemployed.
Improving employment opportunities for young people requires a broad and concerted effort from all stakeholders. The collaboration between communities, academia, businesses and governments can drive young minds to innovate in a way that influences all key economic drivers in a measurable and sustainable way.
While governments are primarily responsible for creating an enabling environment for youth employment, the youths as recipients have an important role in the process. They must avail themselves to be prepared for the job market either as an employee or as a business owner.
Intervention actions that would contribute to generating suitable employment opportunities for young people are skills training programmes, entrepreneurship training as well as financial and technical assistance to motivate and help them in starting their own businesses.
Young people should be encouraged to think about what society needs, create a product for that need, and effectively market it. As the job market is limited, and with youths flocking to already saturated urban centres for employment opportunities, young people should be encouraged to create their own entrepreneurial opportunities instead. No doubt, starting a business is a difficult endeavour which does not come without its own risks. Society has to build a support system for this. Crowd-funding, venture capitalists, and start-up accelerators are just some examples.
The fear of the unknown is the reason why a lot of young people are still unemployed. Who said that failure is a bad thing? In fact, it is a necessary requirement for success. It prepares you better than many who didn’t have to try as much as you did.
The comfort zone is the worst place to be in building a successful future. Identify what you’re passionate about, and skilfully and mentally empower yourself so you’re ready for any opportunity that comes knocking on your door. Attend events, seek information and talk to people who have experience with what you want to do. Most importantly, be versatile and open-minded to learning new things along the way.
Lastly, you can’t predict your future but you can plan for it. If you’re still clocking in every morning, then start planning to give yourself a better future by thinking of a business you can run. Venturing into entrepreneurship will not just make you financially independent but also make you empower others by creating employment opportunities for them through your business. Now is the right time to start!
Here are some steps to take:
- Build a solid financial background by ditching debt and living less than you make. You are born to succeed, not impress.
- Comfortably invest a percentage of your income by talking to an investing professional. Let your money work for you.
- Eventually invest in the business of your dream but before you do this, ensure that all is in place to enable you succeed.
Remember, the way we land might be important for sure, but how we jump makes the jump unforgettable. So take a higher jump today for a brighter tomorrow!