What the hell are NEETs and why can’t they find jobs?
Aug 29, 2024
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The podcast dives into the challenges faced by NEETs—young individuals not engaged in employment, education, or training. It explores staggering unemployment rates and the barriers like job networks and remote work that impact youth. The discussion highlights the economic landscape that frustrates young job seekers, especially those without degrees. Plus, they touch on how industries like accounting struggle to attract new talent while grappling with perceptions and high living costs. The conversation is layered with insights on potential solutions to empower this demographic.
15:17
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Quick takeaways
The alarming rise of NEETs among 18-24 year-olds underscores the need for improved job networks and policy reforms to create job opportunities.
HubSpot's new entrepreneurship kit aims to empower aspiring entrepreneurs by providing essential resources and frameworks to simplify their journey.
Deep dives
Overcoming Challenges in Entrepreneurship
Starting a business is exceedingly challenging, even for those with great ideas. The newly launched entrepreneurship kit from HubSpot offers a comprehensive suite of resources to guide entrepreneurs from the initial idea to significant milestones like an IPO. This kit includes templates for project management, email communications, and skill development, along with a solopreneur guide featuring critical freelance pricing worksheets. By providing these tools and expert frameworks, HubSpot aims to simplify the entrepreneurial journey and make it accessible to a wider audience.
The Rise of NEATs
An increasing number of young individuals in the U.S. fall into the NEAT category, which stands for 'not in education, employment, or training'. Research from the Federal Reserve Bank of St. Louis indicates that about 16% of youth aged 18 to 24 are classified as NEATs, showing a worrying trend of disconnection among this demographic. Factors contributing to this issue include weak job networks, geographical barriers, and personal circumstances such as childcare responsibilities or disabilities that limit employment opportunities. The situation is compounded by economic challenges such as high living costs and a competitive job market, making it difficult for many young people to enter the workforce.
Global Context of Youth Disengagement
The phenomenon of disconnected youth is not confined to the United States; it is a growing concern worldwide. Nations like Canada, South Korea, and China are facing similar challenges with high rates of youth unemployment and disengagement from the workforce. In Canada, for example, youth unemployment climbed to 13.5%, reflecting a troubling trend that resonates across borders. Addressing this issue requires significant changes in both governmental policies and corporate practices, with a focus on supporting young people through viable job opportunities and meaningful pathways to employment.
The acronym of the week is NEETs: not in employment, education, or training. 18-24 year olds in the US are reportedly more disillusioned now than ever when it comes to finding work and financial opportunities. So what’s causing this and what can we do to help? Plus: Lego goes sustainable and iPhone 16 is on its way.
Join our hosts Jon Weigell and Juliet Bennett, as they take you through our most interesting stories of the day.
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