Abstract:

The current financial and economic crisis has resulted in the worst global recession since the Great Depression. The following damage of jobs and amplified duration of joblessness will ensure that unemployment across the world will prolong to rise and stay persistently high for some time to come, well after the economy has begun to pick up. Outside this overview, such downturns have more adverse allegations for exposed segments of the population such as youth. Young people are certainly hit hardest as reflected by rising unemployment rates, which persevere long after the economy is rising again. In the rouse of the present downturn, young men have been mainly affected, which has been driven by a range of aspects counting the high amount of young men in heavily impacted sectors such as construction. In reaction to these circumstances, policymakers should utilize targeted crisis interventions that aim to keep youth employed where possible, while also back up new participants and those who have lost jobs find employment, mainly as the economy recovers.