Davos 2012: Youth unemployment 'disaster'
Davos is used to bluster from political leaders. But when usually quietly spoken company bosses from all corners of the earth warn of "not a crisis, but a disaster," when they call something a "cancer in society," you know we have a problem.
The world, they say, is "sitting on a social and economic time bomb". The world is plagued by youth unemployment.
The numbers are stark: In some countries of the Arab world, up to 90% of 16-24 year olds are unemployed. In the United States the youth unemployment rate is 23%. In Spain nearly 50%. In the UK 22%.
Worldwide, some 200 million people are unemployed. 75 million are between 16 and 24 and every year about 40 million young people are entering the workforce.
The business leaders at the World Economic Forum (WEF) know why it matters: Young people who were unemployed for a long time will earn less throughout their whole lives.
They will be less employable. They won't have the skills that business needs. They are more likely to have long-term health problems. And it can cause social unrest.
There's a term for it: Lost generation. Or as one business school professor puts it: "Unemployment sucks. Youth unemployment sucks even more."
"The youth has lost a line of sight to the future."
And bosses really do care about these things, even the most cold-hearted ones, because all of the above costs money - indirectly because of lower demand for their products and services; directly in training and healthcare costs, and higher taxes.
Then there is demography. In Jordan, about 70% of the population is under the age of 30. If the youth is not fit for the workplace, the country will run out of talent soon, said a participant.
And, believe it or not, many chief executives here really care passionately about the issue.
Again and again during the Davos meeting, executives raised the issue of youth unemployment.
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low-priced Health Insurance For Unemployed! | What is Health and ...
How can I get affordable health insurance if I’m unemployed?
There are many ways you can obtain affordable health insurance, even after you’ve become unemployed. Check into COBRA, converting your former group health insurance plan into an individual health insurance plan, or a state continuation plan in which you can continue being covered under your previous group health insurance plan for a certain period of time.
What if my last job didn’t offer health insurance?
There are a few reasons why some employers don’t offer health care benefits. Since employers aren’t legally required to offer health insurance, not all do. Plus, if you work part-time, you usually aren’t eligible for your employer’s health benefits package.
If your last job did not offer health insurance benefits, you most likely won’t be eligible for assistance such as COBRA, conversion, or state continuation. You can, however, contact your state’s department of insurance to find information about any affordable health insurance plans they offer for unemployed individuals. You may also want to ask about your eligibility for state-sponsored health care, as well as Medicaid.
Are there options for unemployed people to get help with prescription medications?
Yes. Many companies that make and distribute prescription medications have special programs to assist those people who need prescription medicine but can not afford it otherwise. If you know your particular prescription medication company, contact them for more information. If you don’t know, contact your state’s department of insurance for help.
How can I find affordable health coverage for my children?
It is important your children keep continuous health insurance coverage. If you’re able to take advantage of COBRA, conversion, or state continuation, be sure to do so. If not, make sure you ask your state’s department of insurance specifically about state health care programs for your children. Depending on your income and assets, you may be eligible for free, or very low-cost, health insurance for you children.