Youth Employment - Supply to meet demand
Create strong policy capble of making job supply meet market overall demand
Youth unemployment problem has two sides: the youth side and the unemployment side. People tend to focus on the youth side, suggesting and creating ways to empower youth, give them tools and proposing new ways of creating opportunities. But what if we focused on the unemployment side?
Employment starts when you choose your field of study. That happens at a relatively young and inexperienced age where you’re somehow forced to choose your career path for life.
It is true that more and more people are creating their own opportunities by allocating their entrepreneurial drive to self-endeavors. Nonetheless is equally true that we weren’t all born with entrepreneurial skills and we can’t all be entrepreneurs…and there is nothing wrong with it.
Millennials are on track to become the most qualified and educated generation ever and that comes with a major problem: market may not be ready to absorb so much talent.
People are getting their degrees with a certain degree of expectation regarding the level of employability of their profession, but some careers just have too much supply and not enough demand. That leads to unemployment or extremely low/inexistent remunerations. On the other side the market keeps on presenting opportunities absorbing all graduates from some other specific area and paying them extremely well.
Therefore governments should be held accountable regarding superior education, by creating efficient policy capable of measuring future demand and adjust today, the future supply. By understating on average how many graduates are entering the market five years from now, government should be able to declare available/non available each field of study based on market’s capability to absorb those same graduates. This would allow to determine a point of saturation in specific areas, redirecting high school seniors to fields of study with higher employability five years from now.
This type of public policy may bring some important questions with it:
Should “what you study” determine “what you do for a living”?
Should people study what market needs or should they study what they love?
More supply creates more competiveness – Wouldn’t this policy create less competitive and therefore less capable workers?
Although those are legitimate questions, seems prudent and responsible to give young students the possibility of making an informed decision regarding their future professional life, being able to commit and invest now, in a tomorrow’s more certain opportunity.
Who does this idea benefit, who are the main players and what's in it for them?
It benefits students by giving them higher rates of employlability once they have align their studies and technical know-how with the overall market needs; and public treasury by decreasing unemployment rates and therefore creating less need of unemployment subsidies and extra training.
How is your idea specifically increasing access to employment opportunities and pathways for young people?
By objectively measure the level of employability of a current field it is possible to better inform current students which fields of study have an higher probability to present them good employment opportunities when they finish their studies.
What early, lightweight experiment can you try out in your own community to find out if the idea will meet your expectations?
Once is policy based on medium/long term perspective (average duration of graduate studies) is difficult to test it on my own community
What skills, input or guidance are you keen to receive from the OpenIDEO community to help you build out or refine your idea further?
Understand if they are currently living in their own countires and communities youth unemployment based on a complete market saturation on specific areas of expertise.
Does it make sense to create such dependence between education and economy?
How do you envision your idea being implemented?
Keen to be involved in prototyping but need partners at some stage