CARIBBEAN DEVELOPMENT BANK

Transcription

1 CARIBBEAN DEVELOPMENT BANK YOUTH ARE THE FUTURE: THE IMPERATIVE OF YOUTH EMPLOYMENT FOR SUSTAINABLE DEVELOPMENT IN THE CARIBBEAN MAY 21, 2015

2 Structure of Presentation The Youth Unemployment Challenge: State of Affairs Quantifying the Socio-economic Costs of Youth Unemployment Existing Policy Responses: Stocktaking An Action Agenda for Sustainable and Inclusive Youth Development Main Takeaways

3 The Youth Unemployment Challenge: State of Affairs Approximately 260,000 unemployed youth across the Caribbean (based on available data) Youth unemployment rates are among the highest in the world. Average Caribbean rate above world average: over 25% vs. 10% Youth unemployment rate higher than adult rate:with a 25% vs. 8%r Unemployment higher for female youth than male: over 30% vs. 20% 3

4 Quantifying the Socio-economic Costs of Youth Unemployment Total cost of excess youth unemployment: USD883.4 mn Country cost (average): 1.5% of GDP Government cost (average): 0.12% of GDP Total cost of excess youth pregnancy: USD96.5 mn Country cost (average): 0.017% of GDP Government cost (average): 0.002% of GDP Total cost of excess youth imprisonment: USD8.6 mn Country cost (average): 0.02% of GDP Government cost (average): 0.002% of GDP

5 Existing Policy Responses: Stocktaking Region has a majority of the rudimentary requirements in place for addressing youth unemployment such as: institutionalisation of youth issues in government ministries availability of vocational education and training elements of labour market flexibility remedial employment-related training schemes support for self-employment Piecemeal, fragmented youth programmes, inadequate information sharing Youth issues aligned with social issues, but often separated from labour market issues Generic employment programmes as a results of disconnect between TVET training and labour market needs

6 Existing Policy Responses: Regional Positives Cayman Islands: Passport to Success Private undertaking, contracted by the Government to specifically address unemployment, especially among youth Grenada: Imani Programme The main youth employment initiative, runs for 18 months, starting with an initial three months of self-development courses in Personal Skills, Health and Well-Being, Managing Conflicts and Problem Solving, and My Community and Me Trinidad & Tobago: Youth Training and Employment Partnership Programme (YTEPP) A skill-development programme specifically directed at assisting school-to-work transition

7 An Action Agenda For Sustainable and Inclusive Youth Development 4 I s Approach: Innovation: Real economic innovation: New growth sectors imbued by technology and innovation Investment: Education and training (curriculum relevance) Psycho-social enhancements (soft skills) Skills development, entrepreneurial education Remedial employment and re-employment training Insurance: Systematic social protection Institutions: Holistic and integrated support for youth empowerment Better balance between effectiveness and political expediency

8 An Action Agenda For Sustainable and Inclusive Youth Development (Cont d) Action 1: External and internal support and activism for transformational change Action 2: Ensure by 2018 that current regional youth policies and programmes are aligned with prevailing thinking in addressing youth unemployment Action 3: Implement by 2017 steering committee, involving other regional bodies to oversee the policies and programmes established and facilitate execution at the national levels Country Level: Action 4: Organise multi-stakeholder steering committees, including the public sector, private sector, trade unions, youth related organisations and young people by 2018 Action 5: Revise/establish national youth policies by 2018 to include programmes and policies to address unemployment, ensuring that gender is a crosscutting issue Action 6: Utilise private sector assessment reports, where they exist to implement recommended actions to facilitate private sector development by 2020

9 An Action Agenda For Sustainable and Inclusive Youth Development (Cont d) Country Level Cont d: Action 7: Initiate the process for the development of unemployment benefit systems in countries where they currently do not exist by Action 8: Develop and implement plans for the revision of the curriculum and the general institutional structure of the education and TVET systems by 2025 Action 9: Promote active participation in the labour market through career counselling, proactive employment placement programmes, Youth Guarantee Schemes and the Job Card system for example, by 2018 Action 10: Strengthen Labour Market Information Systems, improve the overall statistical systems in the Region by 2020 Action 11: Establish framework and methodology for M&E by 2017 as the programme of action moves from the Regional to national levels

10 Key Takeaways Acute youth unemployment challenge. Caribbean average higher than world average. Females disproportionately affected. Non-trivial socio-economic costs Existing youth programmes generally piecemeal and fragmented but there are some success stories 4 I s approach needed: Innovation, Investment, Insurance and institutions Collective responsibility for increased youth employment and sustainable inclusive youth development