Научная статья на тему 'LEVERAGING DIGITAL TECHNOLOGIES FOR ADDRESSING YOUTH UNEMPLOYMENT IN THE CONTEXT OF COVID – 19'

LEVERAGING DIGITAL TECHNOLOGIES FOR ADDRESSING YOUTH UNEMPLOYMENT IN THE CONTEXT OF COVID – 19 Текст научной статьи по специальности «Экономика и бизнес»

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Ключевые слова
digital technologies / teaching youth / employment / youth

Аннотация научной статьи по экономике и бизнесу, автор научной работы — Nargiza Khamidova

Millions of employees around the world have been suffered by job losses due to the coronavirus crisis, while the economic impact on young workers has been stronger. The social and economic engagement of young people was a persistent problem until the actual onset of the crisis. Young people today tend to face the long-term impact of a pandemic if innovative policies and measures are not taken immediately. The problem of youth employment opportunities is complex and differs according to gender and preconditions between urban and rural areas depending on the country. Due to various information gaps and poor access to social media, minimal work experience or lack of relevant experience, young people can be misinformed. Even as education grows, much of the research cites the lack of skills and experience in various regions of the world as the main obstacles to career opportunities for young people. Educational structures in different lower economies provide programs that do not improve the competencies required for the hard and soft skills of the modern labor market. Key issues emerged as a lack of qualifications and a mismatch between training and skills. The problem is that too many unemployed are highly qualified, but the market requires different professional or specialized skills. Governments may not always have adequate information to decide on the right approach, and they may make the wrong decisions. Innovative strategies for youth jobs can be delivered by partnerships with all stakeholders.

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Текст научной работы на тему «LEVERAGING DIGITAL TECHNOLOGIES FOR ADDRESSING YOUTH UNEMPLOYMENT IN THE CONTEXT OF COVID – 19»

11. Worley, Peter (2015-11-29). "Open thinking, closed questioning: Two kinds of open and closed question". Journal of Philosophy in Schools. 2 (2). https://doi: 10.21913/JPS.v2i2.1269

12. Ginsburg, G. S., & Willard, H. F. (2009). Genomic and personalized medicine: foundations and applications. Translational research, 154(6), 277-287. doi:10.1016/j.trsl.2009.09.005;

13. Savadjiev, P., Chong, J., Dohan, A. et al. Demystification of Al-driven medical image interpretation: past, present and future. Eur Radiol 29, 1616-1624 (2019). https://doi.org/10.1007/s00330-018-5674-x;

14. Sailer, A.M., Tipaldi, M.A. & Krokidis, M. AI in Interventional Radiology: There is Momentum for High-Quality Data Registries. Cardiovasc Intervent Radiol 42, 1208-1209 (2019). https://doi.org/10.1007/s00270-019-02249-y;

15. Schuur, F., Rezazade Mehrizi, M.H. & Ranschaert, E. Training opportunities of artificial intelligence (AI) in radiology: a systematic review. Eur Radiol (2021). https://doi. org/ 10.1007/s00330-020-07621 -y.

LEVERAGING DIGITAL TECHNOLOGIES FOR ADDRESSING YOUTH UNEMPLOYMENT IN THE CONTEXT OF COVID - 19

Nargiza Khamidova

Abstract. Millions of employees around the world have been suffered by job losses due to the coronavirus crisis, while the economic impact on young workers has been stronger. The social and economic engagement of young people was a persistent problem until the actual onset of the crisis. Young people today tend to face the long-term impact of a pandemic if innovative policies and measures are not taken immediately. The problem of youth employment opportunities is complex and differs according to gender and preconditions between urban and rural areas depending on the country. Due to various information gaps and poor access to social media, minimal work experience or lack of relevant experience, young people can be misinformed. Even as education grows, much of the research cites the lack of skills and experience in various regions of the world as the main obstacles to career opportunities for young people. Educational structures in different lower economies provide programs that do not improve the competencies required for the hard and soft skills of the modern labor market. Key issues emerged as a lack of qualifications and a mismatch between

training and skills. The problem is that too many unemployed are highly qualified, but the market requires different professional or specialized skills. Governments may not always have adequate information to decide on the right approach, and they may make the wrong decisions. Innovative strategies for youth jobs can be delivered by partnerships with all stakeholders.

Key words: digital technologies, teaching youth, employment, youth.

ИСПОЛЬЗОВАНИЕ ЦИФРОВЫХ ТЕХНОЛОГИЙ ДЛЯ РЕШЕНИЯ ПРОБЛЕМЫ БЕЗРАБОТИЦЫ СРЕДИ МОЛОДЕЖИ В

КОНТЕКСТЕ COVI D-19

Хамидова Н.

Аннотация. Миллионы сотрудников во всем мире пострадали от потери рабочих мест из-за кризиса, вызванного коронавирусом, в то время как экономические последствия для молодых работников были сильнее. Социальная и экономическая вовлеченность молодежи была постоянной проблемой до фактического начала кризиса. Сегодня молодые люди склонны сталкиваться с долгосрочными последствиями пандемии, если новаторская политика и меры не будут приняты незамедлительно. Проблема возможностей трудоустройства молодежи сложна и различается в зависимости от гендерных факторов и предпосылок между городом и селом в зависимости от страны. Из-за различных пробелов в информации и плохого доступа к социальным сетям, минимального опыта работы или отсутствия соответствующего опыта, молодые люди могут быть дезинформированы. Даже когда образование растет, большая часть исследований упоминает отсутствие навыков и опыта в различных регионах мира в качестве основных препятствий для возможностей карьерного роста молодежи. Структуры образования в разных странах с более низкой экономикой предоставляют программы, которые не улучшают компетенций, необходимых для жестких и мягких навыков современного рынка труда. Ключевые проблемы возникли как отсутствие квалификации и несоответствие между обучением и навыками. Проблема в том, что слишком много безработных имеют высокую квалификацию, но на рынке требуются различные профессиональные или специализированные навыки. Правительства не всегда могут иметь адекватную информацию, чтобы принять решение о правильном подходе, и

они могут принимать неверные решения. Инновационные стратегии для молодежных рабочих мест могут быть предоставлены партнерством со всеми заинтересованными сторонами.

Ключевые слова: цифровые трудоустройство, молодежь.

технологии, обучение молодежи,

1. Background of the employment status of the youth.

Young people are disproportionately affected by unemployment.

According to the World Bank, 6.7 per cent of the global population will remain poor in 2030, under the COVID-19-baseline scenario1. Whereas currently, the potential of one-fifth of global youth is not fully being realized2. Each part of our societies has been affected by COVID-19. Millions of employees worldwide

were impacted by job losses in the coronavirus-driven crisis, while there were greater economic effects on young workers. Youth's social and economic engagement was an ongoing concern right prior to

the actual start of the crisis. Empirically during economic downturns, youths have been significantly harmed in far too many forms however this crisis is particularly controversial due to economic sectors which are severely affected. Today, young people are prone to face long-term consequences of the pandemic unless innovative policies and measures are taken promptly. The World Bank had projected that 1 billion youths will enter the workplace over the next decade even before the outbreak started. Just 400 million would find jobs out of them, with the forthcoming recession there is a huge risk of 600 million young people to be left3.

1

Poverty and Shared Prosperity 2020: Reversals of Fortune, the WBG

2The 2020 edition of the Global Employment Trends for Youth, the ILO

3 COVID-19: Working with and for young people, UNFPA

Youth face particular obstacles in their transition from school to work.

A significant proportion of all new job applicants is young people. When they reach the age of 15 to 24, most people enter the job market for the first time. A company's immediate response to a sharp drop in demand for its goods or services is to minimize or disrupt the jobs of the workforce in this age category. More young job-seekers vying for a small number of vacancies are disadvantaged in comparison to experienced workers.

Characteristics of global employment, 2019 (percentages)

Employers Informal Non-poor

Note: The estimates of infornriality refer to 2016. Extreme working poverty [3 daily per capita income of below US$1.90 in PPP terms) and moderate working poverty (a daily per capita income between US$1.90 and U5$3.20in PPP terms) are assumed to be zero in North America, the high income countries In Europe (including European Union countries), Japan, Australia and New Zealand. Source: 1LOSTAT, [LO modelled estimates, November 2019; ILO, 2018b,

New job market entrants in the United States were analyzed over the last 40 years, from 1976 to 2015, across upturns and downturn in recent work by the IMF. This study was partially influenced by the findings of people who graduated around the Great Recession. Also, after many decades, the quality and satisfaction of employment for those who joined the labour force just before the recession and

those who did so as it progressed is considerably different. On the basis of the IMF estimates, around 6,8 million young Americans seeking their first full-time work in 2020 might lose approximately $400 billions of income over the first 10 years of their working lives. This forecast is based on a rapid recovery in 2021. If the downturn persists or worsens with a pandemic, 2020 graduates will be much further behind and a more vulnerable group of newcomers would face the same horrific scenario in 20214.

The economic effects of the pandemic can aggravate the existing vulnerability of young people in labour markets.

The International Labor Organization published a 'Global Youth and Covid-19' survey to examine the direct effects of the pandemic on the lives of young people aged 18-29 with respect to employment, education, mental well-being, rights and social activism. The results of the survey indicate that the consequence of the outbreak on youth is widespread, profound and disproportionate, especially for younger women and young people in low-income countries5.

The youth unemployment rate for the OECD countries is still above pre-crisis levels over 10 years after the financial crisis, showing the prolonged negative effect that economic shocks have on both the present cohort for young people and coming generations6. The economic slowdown triggered by the Covid-19 recession also threatens to intensify existing youth disparities. For instance, in the 2007-2008 financial crisis, unemployment and inactivity, which continued during the slow

recovery, were most impacted to young people with low educational qualifications (low upper secondary education)7. Figures released in recent years indicate that young people with a minimum education are three times more likely to be NEET than university graduates, which puts potential

opportunities for employment and

8

income at risk8.

4

The long shadow of an unlucky start, the IMF

5 The Global Survey on Youth and Covid-19, the ILO

6 Youth and COVID-19: Response, recovery and resilience, the OECD

7 OECD (2019), Society at a Glance 2019: OECD Social Indicators, OECD Publishing, Paris, https://dx.doi.org/10.1787/soc glance-2019-en.

8 OECD (2015), OECD Employment Outlook 2015, OECD Publishing, https://doi.org/10.1787/19991266 (accessed on 2 May 2020).

SUPPLY-SIDE

I DEMAND SIDE

2. What are the major barriers to adopting and scaling up empirical strategies for youth employment and how can they be overcome?

The challenge of youth job opportunities is complex and differs with significant gender and urban-rural prerequisites according to the country background. Young people often have little expertise, skills, social networks and resources, and are driven towards low-quality informal jobs with low-income potential.

The obstacles found for employment involved joint variables of demand (economic limitations; job market failures; limited financial access) and individual factors of supply (educational and skills mismatch; lack of social capital). They are intersecting with societal, economic and political biases towards young people.

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• Lack of leveraging a vast network of resources, knowledge and partnerships to achieve a long-lasting, positive impact on decent works for the youth.

Asymmetric information is one of the significant barriers that young adults face. Due to various information gaps and poor access to social networks, or minimal to no relevant work experience, young people may be misinformed. Initially, young people may not be aware of the demands of the employment market, and they also need social networks to advise them and guide them to the right opportunities. The partnership of unemployed youth with sector agencies (TVET trainers, work-placement consultants, etc.) is typically regulated by government entities with the provision of the public's programs.

Past experience shows that these entities may not offer appropriate information and resources for successful results9. A partnership among key players and readiness to incorporate agreements are necessary conditions for efficacy. Moreover, coordination, consistent communication between stakeholders, the policy framework for exchange processes and accountable institutions are essential for enforcing agreements and policymaking. The policy coordination development at the national level is a significant way in which the private sector can engage in

9

Integrated Youth Employment Programs, World Bank 2018

youth skills development, but this requires the development or implementation of institutional mechanisms for such planning for partnership. Governments may not always have adequate information to make a decision on the correct approach, and they may make poor decisions, such as targeting promising sectors to concentrate on TVET, which eventually constitute the wrong choices.

Innovative strategies for youth jobs can be provided by the private sector. The involvement of private providers in a coordinated competitive environment, which provides professional development for youth, has the potential to increase performance, quality and scope. From the private sector's perspective, large businesses may be driven by social responsibility priorities, which can influence the types of programs to support or engage. However, companies may be predominantly cautious about uncertainties of productivity of fresh graduates, therefore, governments must clearly recognize in designing partnership initiatives.

• The main challenges of information expansion and skill-matching mechanisms to design and implement youth employment programs.

The research of ADB showed significant differences in the capacity of graduates provided by institutions of training and workplaces. Although 96% of educational institutions interviewed in Indonesia responded that their graduates were well-prepared for employment, only 33% of employers agreed with them. In Cambodia, nearly 90% of employers surveyed reported inadequate readiness of young people for beginning the careers10.

Even when education is increasing, a large part of research mentions a gap of skills and experience in different areas of the world as the main obstacles for youth career opportunities. The structures of education in different countries with lower economies provide a program that does not improve the competencies needed for the hard and soft skills of the modern labour market. The key issues arose as lacking qualifications and a mismatch between training and skills. Studies had found that between 25 per cent and 45 per cent of the workforce in 24 European countries are either overqualified or under-qualified, and less than half of the workforce are deemed to be well-suited in 27 middle-income countries around the world11. Employers find a workforce with no or little expertise lacks adequate skills in emerging economies that are more service based. The issue is that far too many unemployed are highly qualified, but different professional or specialized skills are needed on the market.

• Leveraging government innovation and digital technology for improved work outcomes among youth.

10

Skills Development Vital to Enabling Transition to Industry 4.0 in Southeast Asia — ADB Study

11 Toward Solutions for Youth Employment A 2015 Baseline Report, the Solutions for Youth Employment (S4YE) Coalition.

The most significant outcomes of youth employment have been evidenced by extensive initiatives in advanced and emerging economies that harness synergies between supply-side and demand-side initiatives in the labour market. Foremost, government agencies should ensure prompt and proactive measures to meet key problems within the innovation ecosystem. Actions to improve human resources can be provided by training in skills. New programs to encourage technology adoption and inspire young people should be in action. Modern tech like cell phones and the internet, as well as creative utilization of older technologies such as radio, can transform the way the youth learn skills for work. Even the far from cutting-edge radio technologies have been shown that they are able to boost the abilities of large numbers of youth at minimal cost through initiatives such as interactive broadcasting in South Sudan12.

The introduction of massive open distance learning in order to expand the scope of degree courses is another example of how governments may leverage ICT to address youth unemployment. The use of ICTs in education, particularly machine learning, has become highly prevalent worldwide. Computer-based educational programming is able to improve conventional learning and training programmes. This has the potential to boost the learning process, to minimize dropout rates and to develop labour-market skills by making education more oriented in the labour force.

One of the efficient government innovations is that the government can create an open and user-friendly knowledge portal. The one-stop common spatial data infrastructure (CSDI) can generate data and information about entry-level job openings in the public sector.

These initiatives are generally introduced in collaboration with structural policies intended to improve efficiency in the labour market and to encourage productivity and stable employment. To tackle this challenge, we will need to raise employment and wealth. Therefore, the approach should include addressing the obstacles on the job market faced by young people. One strategy to achieve this is by implementing initiatives systematically, including successful labour market policies.

3. Harnessing the enabling power of ICTs to address challenges of youth unemployment.

• What are the most in-demand hard skills: Expanding youth access to training, reskilling, and upskilling through blended digital and experiential learning.

In addressing youth unemployment, it is imperative to diagnose the roots of common barriers, as it is shown earlier. One of them is mismatching skills in

12 Toward Solutions for Youth Employment A 2015 Baseline Report, the Solutions for Youth Employment (S4YE) Coalition.

demand and supply sides, therefore policymakers should consider the demand for which skills are rising and what may be the future of jobs. According to data gathered by LinkedIn, Coursera and the World Economic Forum in the Future of Jobs Report 2020, The expected change in the division of labour between people and machines would replace 85 million workers by 2025. "Over the coming decade, a non-negligible share of newly created jobs will be in wholly new occupations, or existing occupations undergoing significant transformations in terms of their content and skills requirements," says the report13. Data analysts and scientists, AI and machine learning specialists, robotics engineers, software and application developers, and digital transformation specialists have become more demanding in the job market.

In the 2020 labour market, LinkedIn has provided a list of the most demanding hard, soft skills. The organization has been used to assess its high demand skills compared to its inventory by 660+ million professionals in the platform and 20+ million job openings14. To better facilitate this shift, businesses, educational institutions, governments, and nonprofit organizations should work to refine and scale-up emerging models for accelerated learning such as blended digital learning, experiential learning and tech "boot camps". Coursera data15 indicates that there is a widespread shortage of necessary skills of the data scientific sector for people entering data and AI. Although in an-expected-time - 76 days of training, it is possible to develop such skills as statistical programming. In the next five years increasing technology will change the trajectory of employment, future jobs are a result of adopting emerging technologies, and the rising demand for new goods and services16. Therefore, the government sector needs to implement policies for resilience and enhancement of vulnerable young people in reskilling and upskilling. The public sector is highly recommended to create incentives for investments in preparing young people for demanded professions and to decisively tackle long-delayed improvements to training systems.

13 The Future of lobs Report 2020, the WEF

14 15 skills LinkedIn say will help you get hired in 2020 - and where to learn them, the WEF

15 5 charts showing the jobs of a post-pandemic future - and the skills you need to get them, The WEF

16 The Future of Jobs Report 2020, the WEF

A. Typical learning agenda

B, Top 10 skills by required level of mastery and time to achieve that mastery

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• Connecting supply and demand sides' programs to support youth in employment planning and job search assistance.

Employment services provide job search and career advice assistance, in other words, it serves as a platform where companies can find candidates with more accurate matching skills, and where applicants have access to job opportunities and tips for career development in a wider context. In career services, information and communications technology in many respects play a key role. And the use of the Internet will, in practice, widen the range of employment resources to remote regions and reduce operational costs such as staff and office expenses. For example, Microsoft and Silatech, the leading youth work NGO in the Middle East and in North Africa, have founded their collaboration in Ta3mal17. Ta3mal, launched in Egypt and extended to Iraq and Tunisia, is an online network providing open access for young people to tools, including guidance on how to prepare a resume, professional development and interactive counselling to help young people identify the proper career trajectory, including startups. Another initiative is the Vietnamese cooperation of the Ho Chi Minh Communist Youth Union, the Hanoi Students' Association and the Hanoi Youth Federation aiming to connect youth with employers who offer jobs working from home and from the workplace after the pandemic ends.

Many developing countries lack the expertise or resources to incorporate computerized information systems, as well as Internet-based services. Technology provides solutions, such as an SMS matching program in the Palestinian, Moroccan and Eastern African territories which was launched by an NGO and

17The Private Sector and Youth Skills and Employment Programs, the WBG

mobile service provider-SoukTel18. The system serves as a platform for companies and potential workers to communicate via SMS. This is a low-cost, ultimately equity-enhancing alternative for the vast majority of young people since only mobile phones are required. It also gives young rural people access to workplaces that seek remote access. Thus, government agencies should focus on how best to use these "no charge" prototypes to promote involvement by the demand and supply parties.

• Youth employment programs targeting digital jobs.

Due to the fact that nowadays the labour market is experiencing enormous changes. Furthermore, there is a sudden spike in utilizing technical solutions such as e-commerce, telework, etc. Data from Google Trends19 shows a rising pattern in digital employment and digital skills development over the past decade, and the gap between digital jobs and digital qualifications with varying paces as occupations and educational sectors expand. At least in areas where such tools are available, the modern generation of young people have a digital advantage in contrast to other generations. They are much more collaborative than other generations through social media but not only through conventional participatory channels. Virtual freelance work—contracting web design, accounting, translation and other services to customers over the Internet—has in particular been a platform for young people with digital literacy, including those physically detached from other employment options. Digital work provides young people with a promising chance to enhance career opportunities from all regions of the world by broadening favourable circumstances and eliminating the social limitations imposed by mobility, conflict or geographic isolation.

A study in the United States20 reveals that digital labour markets can provide young, unskilled workers with a promising strategy to increase their chances of getting a job, not only by getting experience but also by providing employers with feedback on previous work performance. For instance, in China21The state department has announced initiatives to support the development of platform economy, sharing economy or other kinds of new economy formats such as employment promoting policy in 'Internet+'. New formats have played an important role in creating jobs. Taking the sharing economy, for example, more than 60 million people provide services through sharing platforms in 2016, which has increased to 10 million people since 2015 (2017 Chinese sharing economy

18 The Private Sector and Youth Skills and Employment Programs, the WBG

19 Digital skills and the future of work: Challenges and opportunities in a post COVID-19 environment, the ILO

20 Toward Solutions for Youth Employment A 2015 Baseline Report, the WBG

21 Job Creation and Job Losses Due to Slower Growth, Institute of Population and Labor Economics Chinese Academy of Social Science (CASS)

report). Among all sharing platforms, DidiChuxing has provided 17.5 million jobs, and 14% of the employees are former employees in overcapacity industries.

• Investing in youth entrepreneurship and start-ups.

While paid positions are hard to obtain, young people choose self-employment to make a decent living. The proportion of self-employed young people varied from 64% to 35% in Southern Asia to 35 per cent in South-Eastern Asia and the Pacific respectively22. The multiplier effects of entrepreneurial activities on youth employment have demonstrated that a number of startups are most willing to recruit and pay higher salaries to other young fellows. According to ADB23 18-34,3 are the most active age group observing the dynamism and innovation of startup founders in the region. On the less bright side, self-employed youth positions are often underfunded and are not well secured from fluctuations of the economy, such as the present crisis of COVID-19. Economic breakdowns can negatively affect the popularity of young people's enterprising activities who turn to self-employment because they have no stable income.

Commonly they do not have the capital to set up a company, nor do they have collateral or expertise in obtaining loans. Besides that, they have less professional experience and less technical expertise in running a small business. Young entrepreneurs' support services are intended to overcome these limitations which include business management and operations training, finance-related skill development training, loan or start-up grants, consulting services and supply provision. The common obstacle of accessing conventional financial instruments is the shortage of guarantees or expertise for startups, innovative solutions and increased access to finance, including funding programs, which would be of specific importance for young founders. Policymakers should also supportively enhance the demand of the private sector, governments and customers for products and services provided by youth-led enterprises.

In some countries, young innovators are finding adequate solutions for the current situation created by the pandemic. For instance, in Cambodia SPEAK- a startup online platform that gathers handicraft producers started the production of handmade face masks that are sold through their e-commerce platform. Another innovative youth-led enterprise, Bundle, has started distributing personal protective equipment and groceries offering online delivery services in Bhutan24.

• Good practice on youth employment programmes from around the globe: case studies and practices of governments.

22 Tackling the COVID-19 youth employment crisis in Asia and the Pacific, the ADB and the ILO

23 Tackling the COVID-19 youth employment crisis in Asia and the Pacific, the ADB and the ILO

24 Tackling the COVID-19 youth employment crisis in Asia and the Pacific, the ADB and the ILO

In view of these limitations, numerous countries have launched various programs to support young people as wage-employees or self-employed individuals, in remote or urban areas, so as to employment and income opportunities. These initiatives incorporate strategies to link active youth to employment and aim to encourage young people who are not part of the workforce. They are focused on training and skills development programs, employment and intermediation services, and subsidized employment interventions.25

Economic planning unit the Prime Minister's department of Malaysia: SL1M

26

The UN Global Initiative on Decent Jobs for Youth concentrates on local-owned initiatives, centered on the National Development Goals, and on comprehensive concrete evidence of what succeeds in various contexts. The Knowledge Facility is an integrated program designed explicitly to maximize intervention and effect on youth employment under the 2030 Agenda for Sustainable Development. The digital platform builds on partners' mutual expertise to exchange information and provide learning opportunities to create decent jobs a reality for youth across the worldwide. The Knowledge Facility is organized into three parts: Learn, Engage, and Contribute.

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25 Integrated Youth Employment Programs, World Bank.

26 Malaysia: SL1M

The UN Global Initiative on Decent Jobs for Youth .

28

Youth courses of Jóvenes programs .

Youth courses of Jóvenes programs

Youth courses of Jóvenes programs[ are an on-demand network of skills to provide low-income youth with vocational training and social work skills in eight countries in Latin America and the Caribbean. Companies engage both in training development and in trainees' apprenticeships. The training agreements are formalized by memoranda of understanding with the industry professionals. The key part of the preparation is provided by private trainers recruited via competitive Lenders with universal supervision.

29

In India, the National Skills Development Corporation (NSDC) .

The National Skills Development Corporation (NSDC)

In India, the National Skills Development Corporation (NSDC), 51 percent industry- owned and 49 percent government-owned, has been set up to encourage the participation of employers by setting up sectoral skills committees, as well as provide seed funding in order to improve competence-based teaching methods of trainings and careers.

MasterCard, in partnership with the International Youth Foundation (IYF) and the Community Collective Society for Integrated Development (CCFID)30.

Young Entrepreneurs

MasterCard, in partnership with the International Youth Foundation (IYF) and the Community Collective Society for Integrated Development (CCF1D), in 2012 created Young Entrepreneurs, a four-year initiative to increase support for youth entrepreneurship in India. It will provide 1,100 youth ages 15 to 29 with inu Itifaceted services (business and life-skills training, access to credit, mentorship) to help launch or expand small businesses.

27 Decent lobs for Youth Knowledge Facility, the ILO

28 The Private Sector and Youth Skills and Employment Programs, the WBG

29 The Private Sector and Youth Skills and Employment Programs, the WBG

30 The Private Sector and Youth Skills and Employment Programs, the WBG

4. Policy recommendations for creating decent jobs for youth.

• It is important to note that there is a sense of urgency for goal-oriented actions. Investing in youth jobs demands an integrated and whole-of-society approach that gives priority to career growth and allows young people to address such drawbacks, including a lack of skills and bias. Thus, the public sector should cooperate with the private sector tightly;

• Governments should use legislative or technological tools to make a concerted effort to design policies as skills mismatching is one of the main obstacles that is faced by the demand and supply side in the labour market. Now than ever, it is crucial for expanding youth access to training, reskilling, and upskilling through blended digital and experiential learning so as to prepare them for short and long run career opportunities;

• Policymakers should facilitate supporting youth in employment planning and job search assistance. Services for jobs should be strengthened and extended. These programs match employees in their simplest form but can also include features as consultation and coaching. These initiatives can be economically efficient in digital forms, although in some low- and middle-income economies they are still underdeveloped;

• Governments should consider efficient ways to ensure career development and protection in the digital world, and how to create an enabling environment for young people to explore work opportunities due to the fact the outbreak has demonstrated its disruptive influence and triggered patterns that have an effect on both long-term and short-term transition. It increases stress on the 'new normal' conditions to adjust conventional employment practices to inclusive, innovative and digital ones. Many occupations are entirely or partly converted into digital work, virtual businesses, freelance activities and platform economy;

• It is imperative to expand access to knowledge, 'seed' capital and all our expertise as a matter of priority, so that we can facilitate this digital transition and modify our style of working, gaining skills and cooperation. Investing in youth-led businesses is also an opportunity to invest in projects that align with a broader impact and has a domino effect since youth attract more young people to hire. Consequently, the public and private sector are encouraged in partnership to formulate inclusive win-win strategies.

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