July 15: World Youth Skills Day
The World Youth Skills Day was observed across the world on July 15, 2018. The day is commemorated to raise awareness on the importance of investing in youth skills development.
To celebrate the World Youth Skills Day 2018, a discussion focusing on how innovation and emerging technologies, such as artificial intelligence (AI), are transforming labor markets, as well as what skills youth need to operate in future economies and to become drivers of a sustainable future, will take place on July 16 at the UN Headquarters in New York.
Why is the day important?
• Rising unemployment among the youth is one of the most significant problems faced by the economies and societies in today’s world.
• At least 475 million new jobs need to be created over the next decade to absorb the 73 million youth currently unemployed and the 40 million new annual entrants to the labour market.
• At the same time, Organisation for Economic Co-operation and Developmen (OECD) surveys suggest that both employers and youth consider that many graduates are ill-prepared for the world of work. Hence, attaining decent work is a significant challenge.
• In many countries, the informal sector and traditional rural sector remain to be a major source of employment.
• The number of workers in vulnerable employment currently stands at 1.44 billion worldwide, among which more than half belong to Sub-Saharan Africa and South Asia.
• Young people are almost three times more likely to be unemployed than adults and continuously exposed to lower quality of jobs, greater labour market inequalities and longer and more insecure school-to-work transitions.
• In addition, women are more likely to be underemployed and under-paid and to undertake part-time jobs or work under temporary contracts.
• This is why education and training are key determinants of success in the labour market but the existing systems are failing to address the learning needs of many young people, and surveys of learning outcomes and skills show that a large number of youth have low levels of achievement in basic literacy and numeracy.
• Hence, the United Nations decided to designate July 15 as World Youth Skills Day to raise awareness on the importance of investing in youth skills development.
Parliament passes Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018
Assam-NRC Draft can’t be basis of any action by any authority: SC
Government to soon introduce bill proposing death penalty for mob lynching
Ministry of Shipping issues new guidelines for improving treasury investment for Major Ports