EU urges member states to tackle youth unemploymentSouce:Xinhua Publish By Thomas Whittle Updated 06/12/2012 5:45 pm in World / no comments
BRUSSELS, Dec. 5 — The European Commission on Wednesday unveiled a package of policy recommendations for member states to tackle youth unemployment and social exclusion as the eurozone struggles to tackle a three-year-old debt crisis.
“This package would help member states to ensure young people’s successful transition into work. The costs of not doing so would be catastrophic,” Laszlo Andor, the EU’s commissioner for employment, social affairs and inclusion, said in Brussels.
The package urged member states to establish strong partnerships with stakeholders, ensure early intervention by employment services, and make full use of the EU’s special funds, among others.
The Commission also recommended member states to ensure all young people up to the age of 25 could receive a job offer, a traineeship or continued education within four months after leaving formal education or becoming unemployed.
The EU’s youth unemployment rate stands at 20 percent on average, with Greece and Spain exceeding 55 percent and many others over 30 percent. The bloc’s overall youth employment rate has fallen by nearly five percent over the last four years, three times as much as that of adults.
The economic cost of not integrating young people into labor market has been estimated at over 150 billion euros (196 billion US dollars) per year, or 1.2 percent of EU GDP, according to the Commission.