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Many university graduates leave university facing uncertainty and unemployment. What are the causes and effects of this problem? Offer some solutions.
Young graduates are facing a youth unemployment crisis. This can be seen around the world where young professionals struggle to find work when they leave third level education. This essay will look at the factors that leave young people in this situation as well as outlining the effects of a lack of jobs, and offering a few possible solutions.
Firstly, young adults can not find work because of a lack of experience. Take the level of unemployment during the current economic crisis for instance. Recent graduates enter the job market without any practical experience while they are competing with other candidates with years of work experience behind them. As a result, they lose out to more qualified applicants.
This has a negative impact on young people today. For example, faced with few job opportunities, third level graduates are forced to take part time, or low skilled jobs working as waiters or shop assistants. They don’t gain any experience and lose the theoretical knowledge they learned in college; therefore, they are further marginalised in the job market.
However, governments can take steps to solve these issue. For example,governments can offer financial incentives to companies who hire recent graduates. This may come in the form of tax breaks or the government could supplement the employee’s income. Moreover, companies could offer inexperienced graduates apprenticeships; thus, providing the business with part-time cheaper labour and the member of staff with valuable experience.
Having analysed the causes and effects of youth unemployment and how governments can relieve them, it is felt that governments need to provide tax breaks for companies employing recent graduates. It is expected that this issue will only resolve itself when the economic situation improves.