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"a Generation In Crisis" - The World Needs 5 Million Jobs/month To Stymie Youth Extremism

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https://www.s4ye.org/sites/default/files/Toward_Solutions_for_Youth_Employment_Full.pdf

http://www.zerohedge.com/news/2015-10-14/generation-crisis-world-needs-5-million-jobsmonth-stymie-youth-extremism

For over 3 years we have pointed out that the surging youth unemployment was Europe's (if not the world's) scariest chart, because the last thing Europe needs is a discontented, disenfranchised, and devoid of hope youth roving the streets with nothing to do, easily susceptible to extremist and xenophobic tendencies: after all, it must be "someone's" fault that there are no job opportunities for anyone. Well, as Bloomberg reports, The World Bank has an unsettling message for young people around the globe: unless we create 5 million jobs a month, the situation is going to get worse.

As The World Bank notes, Unemployment in any form is a drag on an economy and society.

It undercuts productivity, spending, and investment, stunting national growth. It
contributes to inequality and spurs social tension
. Joblessness and inactivity and the failure to tap into the economic aspirations and resources of young people carry an even higher price.
As prospects dwindle,
many face social exclusion, or see their emotional, mental, or physical health deteriorate.
...

Young people account for roughly 40 percent of the world’s unemployed and are up to four times more likely to be unemployed than adults.
...
When young people are not fully participating in the labor force or are NEETs, governments forgo tax revenue and incur the cost of social safety nets, unemployment benefits and insurances, and lost roductivity. Businesses risk losing a generation of consumers.
Social costs are ever mounting as well. The Arab Spring and subsequent youth-led uprisings in many countries, along with the rise of economic insurgency and youth extremism,
demand that we explore the links between economic participation, inequality, and community security, crime, and national fragility through a lens focused on youth. What we see is a generation in economic crisis.
Over the next decade, a billion more young people will enter the job market—and only 40 percent are expected to be able to enter jobs that currently exist.
The global economy will need to create 600 million jobs over the next 10 years: that’s 5 million jobs each month simply to keep employment rates constant.

In other words, even with that 'growth' we are going nowhere!!

20151014_jobs_0.jpg

As Bloomberg reports,

The youngest workers have been hit hardest by the financial crisis
and the global recession of the last decade because they often held the temporary jobs, which offer less protection.
The youth unemployment rate is projected to be 13.1 percent in 2015, compared with 4.5 percent for adults, according to the ILO.
Global employers are looking not only for technical and academic skills, but also such qualities as being open, responsible or organized, ...Young workers are often either overqualified or underqualified for their jobs, it said.
"In emerging economies that are progressively more service-based, employers find a workforce population that lacks necessary skills," the report said.
"Elsewhere, the problem is that many of the unemployed are highly educated but the market demands different competencies or more technical or vocational skills."

At stake is the well-being of the entire global economy.
Without an income, millions of young people slump into poverty. By delaying their entry into the workforce or accepting low-paying jobs, many limit their lifetime earning potential. When young people don't work, governments don't get the tax revenue and businesses fail to gain customers.

"Social costs are ever mounting as well,"
the report said, citing youth-led uprisings in many Arab countries and the rise of economic insurgency and youth extremism.
"What we see is a generation in economic crisis."

And the world population keeps expanding, with automation is it possible to generate all the jobs necessary?

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50% of wealth in the hands of less than 1% of the world's population (and something like 25% of the wealth held by about 400 families)

Talk of having to increase our working hours to meet the needs of being "internationally competitive"

Yet 30-50% of people in some nations with no work and no income.

A huge glut of elderly people in need of care

If only there were some mechanism whereby the wealth and work could be spread around so that:

Wealth wasn't so concentrated

Those with too much work could have more free time and those with no work could do some

Are our political classes so blind that they cannot see there needs to be distributive policies, not just of wealth but of time.

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That's the Oxfam report. Follow through its logic and you find that almost the entire UK population must be not merely in the 1%, but in the upper part of it.

I don't doubt it.

We would have vastly less "wealth" if our house prices fell 50% put we wouldn't be any poorer.

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Why is there such a jobs debt when we've had near-continual 'growth' for at least 30 years? Surely the economy should have loads of spare capacity ready and waiting to generate productive things to do...

It is because of the lump of labour fallacy fallacy.

I saw a programme called "Harvest" a few nights ago when they showed a machine that could plant something in the region of 1m heads of lettuce in a day with just 2 people working with it. Used to take 100's of people to do that job.

It gives us cheaper lettuce but that is an awful lot of jobs that need replacing.

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Bureaucracy knows no bounds.

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or the tory solution, employ people to build houses for people.

then the bankers can lend them a massive debt which the same people then have to work desperately hard just to keep the house they helped build over their head.

it's genius. but sadly, not sustainable.

pm, WAR, it is

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It is because of the lump of labour fallacy fallacy.

I saw a programme called "Harvest" a few nights ago when they showed a machine that could plant something in the region of 1m heads of lettuce in a day with just 2 people working with it. Used to take 100's of people to do that job.

It gives us cheaper lettuce but that is an awful lot of jobs that need replacing.

But are there now 50 lettuce quality inspectors and 50 lettuce health & safety planting guidance advisers?

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The problem is not a job, or even necessarily income in most Western countries, but having the sense of being able to lead a good life. Young people feel this most keenly because many are still forging their identity/working out what they want to get from life/contribute to the world.

If all of the doors seemed closed to meeting the expectations they are told they should have through the media/family/friends/wider society - then, of course, they are going to be annoyed.

Edited by StainlessSteelCat

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If we have cheaper lettuce then collectively we're richer - we have more stuff for less effort.

The problem is the way the wealth is shared out.

Yes, because lettuce is the first thing's the gangs of Refoogies want when they arrive at our shores.

They think the streets are paved with gold.

Not everyone can have a yacht, mansion, ferrari and blonde trophy wife, and yet thats what most the developing world seems to think its owed.

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It is because of the lump of labour fallacy fallacy.

I saw a programme called "Harvest" a few nights ago when they showed a machine that could plant something in the region of 1m heads of lettuce in a day with just 2 people working with it. Used to take 100's of people to do that job.

It gives us cheaper lettuce but that is an awful lot of jobs that need replacing.

Well the UK housing stock is in a dire state so there's plenty of work that needs doing.

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Why is there such a jobs debt when we've had near-continual 'growth' for at least 30 years? Surely the economy should have loads of spare capacity ready and waiting to generate productive things to do...

Because the lump of labour fallacy is a crock of $hit

Edit beaten to it

Edited by PopGun

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It is because of the lump of labour fallacy fallacy.

I saw a programme called "Harvest" a few nights ago when they showed a machine that could plant something in the region of 1m heads of lettuce in a day with just 2 people working with it. Used to take 100's of people to do that job.

It gives us cheaper lettuce but that is an awful lot of jobs that need replacing.

cheers will watch that

http://www.bbc.co.uk/iplayer/episode/b06jd82x/harvest-harvest-2015-2-the-north

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Why is there such a jobs debt when we've had near-continual 'growth' for at least 30 years? Surely the economy should have loads of spare capacity ready and waiting to generate productive things to do...

There is, for those who can identify the right thing to do, and do it.

For some, that'll be a traditional job or trad. self-employment. For others, something entrepreneurial. For others, creative work. Etcetera.

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