Youth unemployment has become a worrying phenomenon with 74.6 million young people unemployed globally in 2012. Rising youth unemployment has a detrimental effect on economic growth, political and social stability as well as on the ability to exploit the potential demographic dividend. Young people who are neither in employment nor in education or training (NEET) are a particular social concern. The economic and social impact of a growing number of NEET young people aged 15 – 24 has raised concerns as they represent a dead weight burden.
15% of US youth population is ‘dead-weight’
Source: Credit Suisse