Encountering a growing unemployment issue among the European youth population, the European Union has agreed to make shared efforts to resolve this problem. Deutsche Welle stated that EU officials met this past month to devise strategies to combat the record-high unemployment rates throughout various nations.
Among the countries afflicted, France and Spain are suffering the most, as over half of their younger citizens are without work. To mitigate this crisis, EU governments are expected to pool their resources to invest €6 billion euro or more to spur job creation, which may be matched by the European Investment Bank.
Europe is not the only are of the world that is attempting to alleviate unemployment rates. The North Africa Post reported that Morocco is planning to address the 8 per cent jobless rate plaguing the nation's population with its Finance Act. This law includes establishing post creation programs, which will hopefully help the 20 per cent of unemployed citizens under the age of 34 secure employment.
Countries in the Persian Gulf region are not left out of this governmental trend, according to Reuters. Employers in this area have been reliant on foreign labour to carry out their operations, but that may soon end. Nations such as Saudi Arabia, Kuwait and Oman are expecting labour gains of 1.6 million positions in the next five years. They plan to tighten regulations to ensure that those jobs go to citizens.