In 2016, a big percentage of 15- to 24-year-olds in Greece, Spain and Italy were identified as not in education, employment or training. High youth unemployment has steep societal costs in terms of foregone earnings, higher taxpayer burden and lower economic growth.

Accelerating technological changes mean that only those with the right skills and the ability to adapt will thrive in an increasingly digital economy. So it's imperative for France and Germany to tackle the gap between the skills of young job seekers and those required by the real economy.

In France, employability of young people after their first qualification is rather low. In Germany, a record high 43,500 apprenticeship positions stayed vacant in 2016 while over 20,000 applicants failed to find spots. To match supply to demand, France and Germany should establish the basis for EU-wide standards for apprenticeship.

Allianz SE published this content on 21 February 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 21 February 2018 10:55:08 UTC.

Original documenthttps://www.allianz.com/en/press/news/studies/180221_allianz-economic-research-european-reunion/

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