The unemployed individual can be defined as the person have no work, however actively looking for employment and readily available for start working. Since last decade, the global business leaders, Non-Profit as well as government sense an alarming phases to mount the crisis of employment of youth. The International Labour Organisation (ILO) shows that there is about 71 million unemployed fall in the age range of 15- 21 across the global region and confronting with unemployment in the long run.
According to OECD, the rates of unemployment in term of education level across the different region of the globe are shown in the following the chart.
Ironically, South Africa is recognised as one of the highest budgets spends on overall world education system and focused on enhancing the basic education quality. The economy, unemployment and education are intertwined in South Africa. In South Africa, the educational crises can be blamed for the cause of unemployment due to the presence of various flaws for instance absence of radical pedagogy and basic proficiencies required for imparting the learner skills, inadequate resources and a persistent shift in the syllabus of the curriculum. The young people without income and experience are highly vulnerable to continued lifetime poverty and dreadfully looking to avail more promising future. Hence they move to other states to avail the opportunities of improved and better life. The unemployment for chronic youth place a brake on local economies and absence of skilled and literate workforce restricted the abilities of business for generation of improved profitability and better employment opportunities.
The mainstream of worldwide employers finds it highly challenging to procure the individual with the required skills. Particularly in developing states, it is challenging to narrow down the gaps of skills, and such crises lurk behind the unemployment of youth. The primary challenge faced by global education is relied on the absence of investment, based on the concept realised by a community of business in an effective manner. The contemporary economist emphasised a new issue of mismatch of skills possess by young people and one required by employees. Employers are inundated with incumbent applications—nevertheless, they protest that they are failed to find candidates with an accurate set of capabilities and skills. According to McKinsey Consultancy Report, about 44% employers in 9 states are able to find adequate entry-level skilled workers. The nine countries are India, Britain, Germany, Brazil, America, Morocco, Turkey, Mexico and Saudi Arabia. The most evident reason for skill mismatch is based on the poor and deprived level of fundamental education system.
In well-developed and advanced economies the rate of jobless for the individual is lower as compared to the secondary educational level at a school that is twofold time greater in contrast with university degrees. The states with a lowermost rate of jobless of youth have a close association with work and education. The prolonged tradition of Germany is based on apprenticeships and eminent vocational education to decreases the unemployment of youth in spite of modest growth. The states with great unemployment of youth are deficient in these aspects. In French society, few leavers of school merely have any real work experience. The universities located in North Africa are emphasised on the preparation of students for filling the jobs of civil service where organisation are complaining regarding the technical skills shortage. The rate of unemployment in Morocco is about five times greater for graduates in contrast with an individual having merely a primary education. The organisations are intended to fulfil this gap by investment in training. According to the consultancy report of Accenture, about 21% of one thousand US workers have acquired novel skills from the training provided by the company in the past five years. In the year 2017, the rate of employment is more significant for adults having a greater educational level in contrast with people having a lower educational level.
In overseas states, the graduate students are highly keen on taking the unpaid internship at the well-reputed company with the expectation to attain more information for the development of experience. They place their pride prior to an essential aspect of the job market that is based on knowledge, experience and skills. It is argued that alone education cannot fix the issue of unemployment. Some people claimed that there are varied issues pertinent to unemployment of graduate students that mainly consists of demand of employer for experience at work, policies of taxation, the absence of incentives of employers and deprived economic performance. However, education may not be blamed for the failure for the fixation of unemployment of graduate, in spite of barrier for resolution of challenges required to be addressed and concerned parties required acknowledging their responsibilities for resolution of the problem. The graduates that keen to work, however, it relied on the valid terms. The more magnificent learning institution has commenced entire sorts of entrepreneurial studies for facilitation of self -employment and employment nevertheless, alone it can’t be a merely considered as the valid and permanent solution.
A large number of graduate have learnt how to write about the effective resume and how to target corporate enterprise, but no one tells them how to become an entrepreneur. The proficiencies and skills required in the labour market have gone beyond the formal level of education. The overall systems of education are required to support the development of employment skills, learning of career management, innovation and entrepreneurship. The skill sets cannot be taught employing a formal system of education and required to be identified by an institution of higher education and alike employers. I frequently involved in a debate with my peers and friends that always blame to graduates or education against their unemployment fate. Overall, I consider that it is improper to come to an agreement with this impression as alone education can’t fix the issue of unemployment. Here are some additional challenges surrounded with the unemployment issue of graduates that encompasses the demand of employers for the experience of work, policies of taxation for new start-ups, the absence of incentives of employers, deprived economic performance and others.