To mark International Youth Day, the Solutions for Youth Employment (S4YE) coalition is launching an ambitious five-year strategy that will tackle major challenges of youth employment worldwide.
S4YE is a global coalition of civil society actors, government officials, foundations, private sector entities, international organizations, and young people that seeks to fill the gap in youth employment. The initiative was launched in October 2014. The strategy – first of three to be developed during the 15-year initiative – has a bold target: to support 150 million youth across the world by 2030. S4YE will enable innovative solutions at scale through practical research and active engagement with public and private stakeholders.
The coalition combines a pragmatic approach to identifying solutions for youth employment with an evidence-based advocacy platform to increase access to productive work for young people. While the youth employment challenge has a global scope, S4YE will focus its work its interventions where the youth employment challenge is a national priority, including the Middle East, North Africa, Sub-Saharan Africa, Latin America, the Caribbean, and Asia. Unemployment figures are staggering. Over the next decade, a billion more people will enter the labor market and five million new jobs will need to be created each month to absorb them. 600 million youth globally are unemployed and not in school or receiving training. Youth are also three times more likely to be unemployed than adults.
"The World Bank Group’s twin goals are to eliminate extreme poverty and to boost shared prosperity for the bottom 40 percent of the population by 2030. Access to productive employment is the most effective way to share the growth dividend and escape poverty. Investing in employability for youth - especially the most disadvantaged - is an essential part of this process,” said Arup Banerji, World Bank’s Senior Director for Social Protection and Labor, and S4YE Board Member. “We support this multi-stakeholder coalition which aims to provide leadership and catalytic action to mobilize efforts to increase the number of young people engaged in productive work."
Andrew Devenport, Chief Executive of Youth Business International added:
“It is vital, as we ramp up efforts to tackle the crisis of youth unemployment, to support young people so that they can start up their own business. Testing innovative approaches in this area can be a major way in which S4YE can make a difference.”
S4YE’s unique approach and framework for action will enable global coordination for local impact and an evidence - based use of resources. It calls on public, private, and civil sector actors to work together to integrate young people into the world of employment and share their expertise.