1. The youth employment challenge
• By 2015 there will be 3 billion people in the world under 25
• Young people are 2-3 times more likely to be unemployed than adults
and are not the target population for microfinance
• Youth ‘bulge’ still affecting many countries
Total number of unemployed youth in the
world likely to top 100 million in 2009,
with over 300 million underemployed
(Source: ILO)

2. Creating Opportunities
• More than half the companies on the 2009 Fortune 500 list were launched
during a recession or bear market
• From 1980-2005 firms less than 5 years old accounted for all net job
growth in the USA
• In the UK SMEs account for 99.9% of all enterprises, 59% of private sector
employment & 52% of private sector turnover
• In India SME’s account for almost 50% of exports
• Challenges and opportunities provide -

3. A Wake-Up Call

4. The Commonwealth
There are over one billion young people living in Commonwealth countries. The
recommendations from last year’s Commonwealth Youth Forum that was
presented to the Heads of State included
• Governments should create a more enabling process for youth to set up
businesses and, where necessary, legislate to support youth entrepreneurship
• Governments should improve youth access to credit, advice, mentorship, technical
training and service exchange partnerships. As the demand from youth increases
a Youth Development Bank should be established
• Governments should encourage banking institutions to formalize youth friendly
lending policies with preference given to new and existing entrepreneurs.

5. The EU
To this end, young people need more opportunities to have entrepreneurial
experiences, to receive support and guidance on business plans, access to start-up
capital and coaching within the starting period.
• The new EU Youth Strategy, “Europe 2020”, involves 7 main projects. 1 of the 7 is
“Youth on the Move”, which itself includes 4 main actions:
• 1. Strengthening lifelong learning
• 2. Increasing the quality and responsiveness of higher education
• 3. Supporting learning mobility across the EU e.g. new website
• 4. Improving the employment situation of young people e.g. a Youth
Guarantee to ensure all young people are in a job, in education or in activation,
and supporting young entrepreneurs

6. Multi-nationals
On 13 September the ILO & IMF jointly hosted a conference focusing on:
‘The Challenges of Growth, Employment and Social Cohesion’.
• “When growth is not fair, it becomes unsustainable,” said ILO Director-General
Juan Somavia. “This has been the overriding lesson of the crisis. High levels of
employment creation should be a key macroeconomic objective alongside low
inflation and sustainable budgets.
• The IMF and ILO agreed at the conference to work together on policy
development in two specific areas:
• • First, they agreed to explore the concept of a social protection floor
• • Second, the two institutions will focus on policies to promote employment-
creating growth
• G20 successes – more information will follow later

7. Multi-nationals
On 13 September the ILO & IMF jointly hosted a conference focusing on:
‘The Challenges of Growth, Employment and Social Cohesion’.
• “When growth is not fair, it becomes unsustainable,” said ILO Director-General
Juan Somavia. “This has been the overriding lesson of the crisis. High levels of
employment creation should be a key macroeconomic objective alongside low
inflation and sustainable budgets.
• The IMF and ILO agreed at the conference to work together on policy
development in two specific areas:
• • First, they agreed to explore the concept of a social protection floor
• • Second, the two institutions will focus on policies to promote employment-
creating growth
• G20 successes – more information will follow later