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The Twin Crises of Youth Employment and Skills Shortage in Zambia: Raising the Issues and Policy Challenges Essay

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THE TWIN CRISES OF YOUTH EMPLOYMENT AND SKILLS SHORTAGE IN ZAMBIA: RAISING THE ISSUES AND POLICY CHALLENGES

Dr. Francis Chigunta

Brief Overview of the Economic and Social Context The Challenge of Youth Employment in Zambia Emerging Opportunities for the Youth Education and Training– the Policy Deficiencies Conclusions and Policy Challenges

Growth
The economy is doing well but people are not Output, as measured by GDP, has been rising averaging 6-7%

2010 2011(e) 2012(p) 2013(p) Real GDP growth Real GDP per capita growth CPI inflation Budget balance % GDP Current account % GDP 7.6 4.8 8.5 -3 6.6 3.7 8.7 -2.6 7.3 3.9 8 -3.6 6.9 4.2 8.5 -3 4

3.6 5.4 3.6 Source: Africa Economic Outlook, OECD (2012). Figures for 2012 and 2013 are projections.

Serious and widespread Only marginal decline - 2004 (68%); 2010 (62.8%) Largely a rural phenomenon: (80%); Urban – 2010 (60%) Inequality: 50.8 (2004);52.6 (1998) Gini-coefficient: 0-1

Private sector - Labour force absorptive capacity limited Small formal sector (i.e. few big businesses) Large informal sector

Years 1996 Zambia Rural Urban 74 84 48 1998 79 91 48 2004 81 91 57 2006 82 91 75 2008 90 96 74

2012 Global Entrepreneurship Monitor (GEM) Report Early-stage Entrepreneurship Activity (TEA) among adult population (18-64 yrs) Measures level of dynamic entrepreneurial activity (new business formation) Zambia has highest TEA rate (41%) in the world However, entrepreneurship sustainability in the Zambian economy is among the lowest in the world Zambia’s established business rate (4%)

Country Ghana Uganda Zambia SSA Latin America and the Caribbean EU

TEA Rate(%) 36 28 41 28 17

EB Rate(%) 38 36 4 13 8

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Zambia has far more entrepreneurs – over ten times as many – than established business owners Questions about why so many people are entering entrepreneurship, while there are rarely any running businesses beyond the early stages – no institutional support The GEM results show that EB in Zambia has declined...

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MLA Citation

"The Twin Crises of Youth Employment and Skills Shortage in Zambia: Raising the Issues and Policy Challenges". Anti Essays. 10 Dec. 2018

<http://snehaedu.com/free-essays/The-Twin-Crises-Of-Youth-Employment-546926.html>

APA Citation

The Twin Crises of Youth Employment and Skills Shortage in Zambia: Raising the Issues and Policy Challenges. Anti Essays. Retrieved December 10, 2018, from the World Wide Web: http://snehaedu.com/free-essays/The-Twin-Crises-Of-Youth-Employment-546926.html