The Lost Generation- Crisis or Opportunity?
Thursday, November 5th, 2009Statistics New Zealand today released the Household Labour Force Survey showing a rise in unemployment over the September 2009 quarter.
Sadly those most effected by unemployment are our future leaders, business creators and workforce:
- 15 – 19 Unemployed 25.1%
- 20 – 24 Unemployed 10.9%
- 25 – 29 Unemployed 6.8%
For more information click through to Statistics New Zealand articles for download
Job Crisis or Opportunity for Change?
Business Week recently lead with a story entitled The Lost Generation discussing the effects of the existing job crisis on young people in the USA.
the continuing job crisis is hitting young people especially hard – damaging both their future and the economy…studies show that an extended period of youthful joblessness can significantly depress lifetime income
As today’s figures show, youth unemployment is also a problem here in New Zealand. Yet, suggestions around creating a sub minimum wage to encourage employers to take on young people does little to empower or improve their future earnings potential. It simply undervalues their time, skills and talent and feeds into the downward spiral of lower lifetime income.
We see ways to empower young people, support Gen Y’s potential, harness their talents and help them discover their place in the workforce
“…We seem to have focused wrongly on building CV’s rather than building businesses…” Sam Morgan
We currently have a wealth of talented young people preparing themselves to be employed rather than cultivating talents which could drive economic growth through the creation of new business and new jobs.
Things are changing on the education front but we believe there is opportunity to provide additional tools to help young people transition from study to work.
The solution we are offering incorporates work experience, education and elements of the traditional CV
1. We want to encourage Volunteer Work Experience as a means to build confidence and valuable work skills so we are facilitating a system of Time Trade (a.k.a Time Banking) to encourage, recognise and reward volunteer activity.
2. A Peer Mentoring Community connecting Graduates with recent Alumni who can share with students of the same / similar discipline their experience of the study / work transition and highlight the real life opportunities available in the marketplace.
Where to look, who to talk to, which skills are important etc. Existing examples include the future in tech initiative to which we hope Time Trade could be applied as a tool for rewarding their career ambassadors.
3. We are using social networking tools and talent profiles to allow young people to build a living work history, a CV with a wealth of testimonials to their talent, skill and work ethic. A talent profile against which they can also be matched with volunteer and paid work opportunities.
Youth unemployment is a major issue but it’s reassuring to know that there are many community based organisations stepping up to help keep young people engaged in productive activity despite the fact of high unemployment.












