THROUGHOUT history, unemployment has been a problem at some point for nearly every country. From the Great Depression, to the post-war situation, to more recent challenges such as the demise of manufacturing in the West.
Today in Europe, 22 per cent of youth find themselves unemployed. From a global perspective, that number increases to 73 million people without a job. Although unemployment in most parts of Asean is not as significant as in Europe, there are some lessons to be learnt.
Malaysia’s unemployment rate was indeed reaching in February 2016 its highest since November 2013, at 3.4 per cent and around 10 per cent of youngsters.
It’s likely we all know someone who has completed their higher education but is still trying to climb onto the first rung of the career ladder.
We are at risk of creating a lost generation, which is unacceptable both morally and economically. Such high unemployment not only damages economies but also disrupts social structures and the communities that we live in.
South Korea is one country in the Asia region that is seeing youth unemployment grow and attempting to address this issue.
At some level unemployment will likely always exist… both in Asean as well as other parts of the world. It’s how the situation is managed that is important. There are actions that we can take to help reverse the situation for the many unemployed.
The paradox is that while unemployment grows in some areas, millions of jobs remain unfilled: eight million in Europe and the United States alone.
This happens because those looking for a job possess the wrong or minimal skills — or lack the right on-the-job experience.
Young people today need to be armed with the skills that hiring organisations are looking for and the experience to get them started.
This is where companies and organisation have a role to play. Temporary jobs, internships and apprenticeships can provide a means of getting that first opportunity and a “foot in the door”.
However for many organisations, including those in Asean, this means re-considering the composition of their workforce. The concept of “one job for life” is history for many job seekers today.
Unemployment can be reduced with the combined power of committed organisations. At the forefront of the human resources sector, the Adecco Group has joined with other leading organisations and programmes that are working towards shared solutions.
One of these is the Global Apprenticeships Network (GAN), an international coalition of companies that work closely together to develop work-based training and boost youngsters’ employability.
We truly believe it is also the responsibility of companies, governments and academic institutions to foster a combined responsibility to initiate educational programmes that are relevant in today’s workplace and that bring value to business and industry. The World Economic Forum on Asean is a good place to work towards that goal.
With well thought through actions, skills and employability can be boosted and that will help, over time, to reduce unemployment across the world. However, this is a long journey and one that must begin now.
The writer, Ian Grundy is the head of public affairs for Adecco Group Asia Pacific