Exploring the Phenomenon of 'NEETS' and 'New Unemployables' in the Labor Market

Monday, 1 July 2024, 19:50
The post delves into the emerging trend of 'NEETS' (Not in Education, Employment, or Training) and the concept of 'new unemployables' among young adults. Despite the low overall unemployment rate of 4%, there is a concerning increase in the number of young individuals who are not participating in the labor force, whether by choice or due to external factors. Understanding the reasons behind this trend is crucial for policymakers, educators, and employers to address the challenges and implications it poses for the future workforce.
CNBC
Exploring the Phenomenon of 'NEETS' and 'New Unemployables' in the Labor Market

'NEETS' and 'New Unemployables': A Growing Concern

Although the overall unemployment rate stands at just 4%, a noticeable segment of young adults are not engaged in the workforce.

The Emergence of 'NEETS' and 'New Unemployables'

  • Definition: 'NEETS' refer to individuals not in education, employment, or training.
  • Trend Analysis: The rise of 'new unemployables' highlights a shift in the labor market dynamics.

Implications for the Future: It is essential to comprehend the underlying drivers behind this phenomenon to mitigate its long-term effects.

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