jollertexcomputer-Academy

Get Your Project Materials

FACTORS INFLUENCING YOUTH UNEMPLOYMENT IN NIGERIA

FACTORS INFLUENCING YOUTH UNEMPLOYMENT IN NIGERIA

CHAPTER ONE

INTRODUCTION

Background to the Study

High unemployment among the youth is one of the primary challenges facing the modern labour market. According to ILO, the number of unemployed youth aged 15-24 has been steadily growing in the recent decades, hundreds of millions of young people are working but still living in poverty. The ILO (2005). estimated the number of unemployed youth to be 88 million or 47% of the global unemployed. Youth consists of only 25% of the world’s working age population. In the absence of significant economic growth and development, high youth unemployment will persist as major challenges of most countries due to population growth and the influx of large numbers of young people into the labour market in developing countries. Some 238 million young people are living on less than US$1 a day and some 462 million young people are living on less than US$2 a day (ILO, 2005). The ILO estimated that decreasing global youth unemployment by half would lead to an increase in the global GDP by US$2.2 trillion an increase of 4%. Addressing youth unemployment in general would also lower poverty levels and add to GDP (World Bank, 2006).

FACTORS INFLUENCING YOUTH UNEMPLOYMENT IN NIGERIA

Although the recent report on Global Employment Trend for Youth by ILO revealed some encouraging trend with declining youth unemployment rates between 1997 and 2007 in some regions of the world including Sub-Saharan Africa, youth unemployment is still a major challenge. The report revealed that despite recent economic growth, rapid population growth which is most youthful represents a significant challenge to the region. Sub – Saharan Africa also faces decent work deficits which create limits in the development of skills among the young population, as families have difficulties affording education and training, even if adequate facilities are available. Maison modern,(2016).observes “In recent years, there is growing awareness of the importance” of tapping human resources potential around the world, the international community and international agencies. Initiatives to promote decent employment opportunities for youth and to assist them in their transition from school to work have been established in most countries of the world (ILO, 2005). Unemployment rates are much higher for women especially younger women than men in most regions of the world, but the youth (Mainly school leavers) are the most affected. Most of the women compared to men occupy low-paid, low productivity and vulnerable jobs. They also work more in the agriculture and informal sector. According to a recent ILO report, the status of women at the labour markets throughout the world has not substantially narrowed gender gaps in the work place (ILO, 2008)

FACTORS INFLUENCING YOUTH UNEMPLOYMENT IN NIGERIA

The vast majority of the world’s youth work in the informal economy. In Africa, 93% of all new jobs and in Latin America almost all newly created jobs (for young labour market entrants) are in the informal economy. Young informal workers frequently work long hours with low wages, under poor and precarious working conditions, without access to social protection, freedom of association and collective bargaining. A number of causes on youth unemployment have been put forward and these are analyzed from microeconomic or macroeconomic perspectives. The macroeconomic determinants of unemployment are aggregate demand, youth wages, and the size of the youth labour force and the lack of skills among youth. Indeed, changes in aggregate demand affects young people more than the adult due to the fact that young people are more likely than older workers to leave their jobs voluntary particularly during recession. During recession, it is expected that the first reaction of firms is to stop recruitment, and this affects young people more strongly. Moreover, when firms start redundancy procedures, it is cheaper for them to fire young workers rather than older workers.

The microeconomic determinants which deal with individual characteristics includes level of education, work experience, gender, imperfect information on the labour market, marital status, age and location. This study chooses to examine the determinants of youth unemployment looking on the individual characteristics because they have a greater influence on youth unemployment. Youth unemployment imposes heavy cost to the individual and the economy as a whole. Unemployment in early life may permanently impair employability, earnings and access to quality jobs. Youth unemployment means that investment in education and training by the government are wasted. On the other hand youth unemployment means that young people have less to spend on products and services, and that personal savings are reduced for investment in business, resulting in loss of production. In addition high and rising unemployment levels among youth may cause hopelessness and other social evils such as crime, violence, break up of families, alcoholism and prostitution. In general, youth unemployment and poor jobs contribute to high levels of poverty.

FACTORS INFLUENCING YOUTH UNEMPLOYMENT IN NIGERIA

How to get complete project materials


Step 1: make payment of N2,000 to the below bank details


NAME:                       TITUS AYANI SOLA
BANK:                       FIRST BANK PLC
ACCT NO:                  3111741042
ACCOUNT TYPE:       SAVINGS
AMOUNT:                  N2000

STEP 2: AFTER PAYMENT SEND THE PROJECT TOPIC AND YOUR EMAIL ADDRESS TO 08063666753

Updated: 24th October 2018 — 9:42 am

Leave a Reply

Your email address will not be published.

− 3 = 4

jollertexcomputer-Academy © 2018 Design By Prayertitus
DMCA (DISCLAIMER) | About Us | Contact Us | Payment Details
Translate »