Lam on what helps and hurts in world-wide youth unemployment
In this 17-minute podcast, David Lam discusses the problem of youth unemployment and some of the policies enacted to lower it. Lam points out that even in areas with healthy economies, youth are about twice as likely to be unemployed as others. In terms of potential solutions, in South Africa, where youth unemployment is about 50%, the government has offered youth wage subsidies – tax breaks for companies that hire youth, as well as transportation subsidies for youth. Lam says incentives for youth hiring or job searching may help with unemployment, but education and training are key in South Africa and many other areas as well. Also, he points out that regulations making it difficult to fire workers or mandating a high minimum wage may hurt youth employment.