Young people facing poor employment prospects are increasingly turning to entrepreneurship to create personal opportunities
According to the BBC
, young people struggling to find work due to poor economic conditions are creating jobs for themselves.
Young people around the world have been particularly affected by the global economic downturn. Graduates have been unable to find suitable positions, and the lack of available apprenticeships has meant many young people are entering the job market without suitable skills.
And a lack of suitable prospects for youngsters has been a catalyst contributing to the recent civil unrest across the Middle East and North Africa, where some regions have upwards of 25 percent young unemployment.
In 2010, the International Labour Organization
estimated that 13 percent of under 24s across the globe were out of work – the highest figure on record.
But now some young people are taking matters into their own hands and creating jobs for themselves.
The Global Entrepreneurship Monitor
estimates that around the world 120 million people, all aged between 18 and 34, are currently setting up their own business. A further 300 million already run a company.
With unemployment still rife, this is no doubt a positive sign for the UK economy as it faces significant fallout from public sector spending cuts.