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Youth unemployment has heavy economic and social costs for the individual, society and the economy as a whole. For the individual, it hinders later employability; contributes to reproducing and compounding poverty; exacerbates social exclusion; and lowers self-esteem. For society, it undermines social cohesion and increases the risks of poor health. Spending power in the economy, savings for investment and taxation revenues are reduced, while social welfare spending increases.
Skills development for youth is one of the main work themes of IFP/SKILLS, with particular emphasis on training and employment promotion strategies which support their integration into the labour market. The Equity Issues Group works in close collaboration with the Youth Employment Network (YEN), a partnership between the ILO and the World Bank, under the political leadership of the UN Secretary General. This partnership explores imaginative policy approaches to the challenge of youth employment. IFP/SKILLS, the focal point for the ILO within the YEN’s Working Group on employability organized a meeting of the Working Group to discuss findings, in collaboration with the International Youth Foundation (IYF). Technical cooperation programmes are assisting the working poor and other vulnerable groups to develop the basic and technical skills they need for wage and self-employment, with a particular focus on unemployed youth. IFP/SKILLS and Rotary International are working together on Computer Skills Training for Youth with Disabilities, demonstration projects to assist local Rotary Clubs in a number of countries to design and implement projects to provide computer skills training and on-the-job work attachments to young people with disabilities.
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