Youth unemployment clearly has a number of negative consequences in terms of both material and emotional well-being. As a result, the current high levels of young unemployment will have a long-term impact on society, making effective policy solutions critical. Being jobless while you 're young increases your chances of long-term 'scarring' in the form of reduced income later in life.
There is also evidence that people in their 40's and 50's have more mental health issues. As a result, the consequences of today's high levels of young unemployment will be felt for decades.
The World Bank predicts that one billion young people will attempt to join the labour market over the next decade, with the bulk of them residing in Mercy Corp's operating nations. However, fewer than half of them will obtain formal employment. The majority of young people, many of whom are members of minority and marginalised groups, will be jobless or living in poverty as a result of this.
A generation of young people across the globe may be adversely impacted by the projected increase in economic inequality and insufficient employment prospects.RedPhantom has taken steps to create jobs so that no young person has such problems.