This work points to the youth experience gap as a key concept to explain the meager employment opportunities and earnings many young people face.The transition from education to work remains a long dark tunnel around the world. However, this book shows that there are striking differences between countries: in Germany, the young people of today are no worse off than their adult counterparts, while in Southern European and Eastern European countries they fare 3 through 4 times worse. The current economic and financial crisis has further exacerbated the situation for young people in many advanced economies. Observers are divided as to the optimal design of youth employment policy. Liberalists believe that the market itself should address youth disadvantages. More flexible labor markets should also guarantee greater labor turnover, including temporary work, so as to allow young people to move from one job to the next until they accumulate the work experience they need to become more employable and find the right career. In contrast, other economists oppose approaches focusing on entry flexibility and temporary work, claiming that the former type helps only the most skilled and motivated target groups, while the latter only allows young people to gather generic, not job-specific work experience
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Italy has probably been one of the first ships to cross the storm of the pandemic, soon after Wuhan in China, and one of the worst performers with a GDP fall of -10% in 2020. The reason is that the pandemic recession has drawn on old structural problems, which already before the pandemic made the country one of the worst performers in terms of growth rates in Europe in the last 20 years. The evils of Italy are well known. It is the second biggest manufacturer in Europe, but also among the most traditional ones. Made in Italy, despite moving up in terms of quality and skilled content, still remains the most exposed to the competition from emerging market economies. The crisis was already ongoing when Italy joined the euro currency, and the strong currency made things worse. The necessary industrial upgrading from traditional manufacturing to the new branches of industry would have required strong public investment in infrastructure, which were not allowed or not possible due to the Maastricht Treaty of 1993, the economic and financial crisis at the end of the 2000s, and the Fiscal compact of 2012. The pandemic has changed the mind of the European Union (EU) governance. Strangely enough, the virus yielded a common destiny to all the EU member states as never before, also in financial matters. This eventually led to the implementation of the so-called Recovery Fund (RF) or Next Generation Fund (NGF). Italy should use the 209 billion euros of the Fund to bring the country not only out of the pandemic storm, but also out of the euro currency storm. For the first time, after decades in which the EU Troika was conveying only sad messages, the EU is all over Europe seen as hope for hundreds of millions of people.
This paper addresses the directions to follow when designing new educational systems and school-to-work transition regimes to adhere to the needs of Industry 4.0. Although a high level of general education will be important for its training content to develop adaptability, it is not the only component to develop. What will be more and more important are work related skills, both the general ones and the ones which are job-specific and need, therefore, on-the-job training to develop. This will require important educational reforms to favour an ever-better integration between educational institution and the world of work. Young people and their families alone will not be able to adapt on their own to the new human capital requirements of industry 4.0 productions. A new framework for an integrated action by governments, firms, educational institutions and families is needed to smooth the school-to-work in the future. The duality principle is the basis for a strong diversification of the supply of education.
This paper addresses the directions to follow when designing new educational systems and school-to-work transition regimes to adhere to the needs of Industry 4.0. Although a high level of general education will be important for its training content to develop adaptability, it is not the only component to develop. What will be more and more important are work related skills, both the general ones and the ones which are job-specific and need, therefore, on-the-job training to develop. This will require important educational reforms to favour an ever-better integration between educational institution and the world of work. Young people and their families alone will not be able to adapt on their own to the new human capital requirements of Industry 4.0 production. A new framework for an integrated action by governments, firms, educational institutions and families is needed to smooth the school-to-work transition in the future. The duality principle is the basis for a strong diversification of the supply of education.
This essay discusses the determinants of youth unemployment within the EU and then the alternative policy options currently at stake. We argue that youth unemployment regards especially some peripheral EU countries and is due to a mix of factors that should be addressed more vigorously, starting from expansionary fiscal and monetary policy. The guiding line should be to reform the Maastricht Treaty so as to allow eacg EU country to reach the Europe 2020 targets. Moreover, especially in the peripheral countries drastic reforms of the school-to-work transition regimes are needed, including not only the European Youth Guarantee, which is underfinanced, but also the introduction of better links between the education system and the labor market. The past emphasis on labor market reforms, instead, should be reconsidered.
This essay discusses the determinants of youth unemployment within the EU and then the alternative policy options currently at stake. We argue that youth unemployment regards especially some peripheral EU countries and is due to a mix of factors that should be addressed more vigorously, starting from expansionary fiscal and monetary policy. The guiding line should be to reform the Maastricht Treaty so as to allow each EU country to reach the Europe 2020 targets. Moreover, especially in the peripheral countries drastic reforms of the school-to-work transition regimes are needed, including not only the European Youth Guarantee, which is underfinanced, but also the introduction of better links between the education system and the labor market. The past emphasis on labor market reforms, instead, should be reconsidered.
In: The European journal of development research: journal of the European Association of Development Research and Training Institutes (EADI), Band 28, Heft 5, S. 934-956
This paper aims to provide a frame of mind to understand the link between structural change and regional unemployment, and, based on it, to survey the most recent literature. An overly optimistic view on the ability of the adjustment mechanism to generate convergence in local unemployment rates has long neglected the question of how regional imbalances arise in the first place. The availability of new longitudinal data sets allows us looking again at this issue with a fresh look, starting from patterns of reallocation among labour market statuses. The main conclusion of recent research is that high unemployment regions have a higher, not a lower rate of reallocation; this suggests, in turn, that they do not suffer from low job creation, but, rather, from high job destruction, and this is because of the low competitiveness of any economic activity. Our findings sound as a renowned justification of the need for demand side policy, especially aimed at increasing the life expectancy of private businesses in high unemployment regions.