Unemployment Problem and Solutions
Problem of Unemployment
1. Lack of entrepreneurship and life skills education
While the exact cause of the skills mismatch is difficult to pin down, it’s a combination of school curriculums neglecting vocational, entrepreneurial and employability training in favor of more traditional academics, poor connections between the private sector and schools to promote training and work experience and a lack of instruction in how to harness life skills most students already have.
2. Lack of access to capital
Young people who want to make their own jobs by starting businesses often struggle to find access to affordable loans, or loans in general. This is partially due to a lack of collateral. High interest rates also make it difficult for young people to repay their loans on time. The World Bank notes that