Over 5 million young people were unemployed in the EU area in the second half of 2014. Unemployment rate among young people (23.2 %) is more than twice as high as the adult unemployment rate. Previously good education has prevented disengagement of young people from the labour market, but current economic crises have wiped out the shielding effect of degrees. Youth unemployment has increased dramatically even among those having higher education.
Career prospects for young people entering the labour market have considerably decreased as they find themselves competing with jobseekers with more employment experience. Young people’s undisputed potential is out shadowed by extensive CV`s of older candidates – historic documents.
Being unemployed is not only a personal problem for casualty’s, but constitutes a challenge to society as a whole. Disengagement from the labour market, involvement in risky behavior, and unstable mental and physical health are serious negative consequences all a price tag and sad stories attached.
Despite the economic crises, there are over 2 million unfilled job vacancies in the EU. Companies are not able to find suitably qualified people for some jobs. The remarkable talent shortage in the EU´s growth sectors include e.g. software developers, engineers, project managers, product developers, nurses, and research scientists. Increasing number of employers are concerned the skills gap will impact their ability to grow business. European Commission warned earlier that by 2015, about 900,000 information and communications technology vacancies may go unfilled in the EU area. Something new has to be done. Enhancing workforces’ geographical mobility throughout the EU would diminish the skills mismatch.
One of the key targets contained in EU`s 2020 strategy is to have 75 % of the active population working by the end of the decade. The European Commission is providing continuous support to Member States to help them implement employment operations like Youth Guarantee. M2Talent has created a revolutionary application that will help job seekers to identify and verify one´s potential and find job openings matching best personal competences and preferences. Innovation can be one of the key resources leading to the EU´s challenging outcome.
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