In Lebanon, youth unemployment hit 18% in 2016. This makes the country among the worst in all of the world’s richest, most developed economies. Our youth must stay employed, and as global media outlets have started focusing on this issue as a major problem with no solution, there’s been increased global interest in how to solve it. In this article, Marwan Kheireddine argues that investing in Lebanese youth is essential for economic growth and stability.
It is important to understand where we came from to look to the future. The youth of Lebanon are in this situation because they are not doing anything to improve their status. If babies were born today, they would be one of the millions of young people in the world when the unemployment rate was already at 27%. In Lebanon, today’s youth unemployment rate is 18%. The future that this baby will see could end up being better or worse depending on if they can do something about it. In this article, I will argue that the youth of Lebanon has not done enough to solve the issues they face, and investing in them is also in their best interest.
The increase in the unemployment rate is an alarming human development problem that we need to address, and it could lead to social unrest with dangerous consequences. The United Nations (UN) International Labor Organization (ILO) estimates that close to 400 million people are considered “working poor.” Their income is low, and they often struggle with basic needs such as food, housing, and health care. Worst of all, youth unemployment is not just a problem in Lebanon. According to the ILO, the global unemployment rate amongst the young is 10%. In 2018, over 100 million people between 15 and 24 will enter the job market. That’s 3 times more than in 2007-2008. Today, it’s hard to find an economy with enough jobs for its young. As a result, this has increased youth unemployment and poverty rates in developed economies like Canada and USA. More information: https://beirutinstitute.org/he-marwan-kheireddine/