Erasmus Impact Study confirms EU student exchange scheme boosts employability and job mobility
Young people who study or train abroad not only gain knowledge in specific disciplines, but also strengthen key transversal skills which are highly valued by employers. A new study (PDF, 229 pages) on the impact of the European Union's Erasmus student exchange programme shows that graduates with international experience fare much better on the job market. They are half as likely to experience long-term unemployment compared with those who have not studied or trained abroad and, five years after graduation, their unemployment rate is 23% lower. The study, compiled by independent experts, is the largest of its kind and received feedback from nearly 80 000 respondents including students and businesses.
Young, promising and unemployed. It might be International Youth Day on 12 August, but for the more than 5.3 million Europeans under 25 without a job, there will be little to celebrate. All the more reason for the EU to make tackling unemployment a priority. Read on to discover what is being done to help young people.
Erasmus: one of the most popular EU programmes
The Erasmus programme offers young people the opportunity to improve their CV by training or studying aborad. More than three million people have taken part in the popular programme since it was launched in 1987. Last academic year alone, 270,000 students received an EU grant to study or train abroad. A new and improved Erasmus+ programme kicks off in September.
EYE2014: fresh ideas for the future of Europe
Last May, the European Parliament welcomed thousands of young people in Strasbourg at the European Youth Event (EYE) to share and discuss their ideas for the future of Europe. The final report containing all their conclusions and recommendations has been handed over to MEPs.
But policymakers have done relatively little to address the problem. The world now risks creating what the International Labor Organization has called a “lost generation,” with global youth unemployment expected to reach 13% by 2018.
Mark Esposito is a member of the teaching faculty at Harvard University Extension School, an associate professor of business & economics at Grenoble Graduate School of Business in France, and a senior associate at the University of Cambridge-CISL in the UK. He has advised the President of the European Parliament, Martin Schulz (Re-elected) on the systemic nature of the EU crisis and serves as cross-theme contributor to the World Economic Forum’s reports on Innovation Driven Entrepreneurship in Europe. Twitter @Exp_Mark.
(Wikipedia - On July 1, 2014, Martin Schulz was re-elected as European Parliament President )
Terence Tse, an associate professor of finance at ESCP Europe, is the head of competitiveness studies at the i7 Institute for Innovation and Competitiveness.
There are more than ten million Roma living in Europe, mostly concentrated in the Balkans and in the European Union’s newest member states ...
Indeed, its programs currently reach more than 100,000 students each year, including more than 1,600 university students who receive scholarships. ...
Together with the World Bank, we established the Roma Education Fund in 2005. The REF is ready to help national education authorities across the EU improve their performance in educating Roma children. Indeed, its programs currently reach more than 100,000 students each year, including more than 1,600 university students who receive scholarships.
...The Fund’s annual budget is only €12 million ($16.3 million)
To break the negative stereotypes, Roma children must be educated to celebrate and take pride in their Roma heritage.
Samasource is a nonprofit organization whose mission is to alleviate worldwide poverty by connecting unemployed women and youth in impoverished countries to digital work. One of the first organizations to engage in impact sourcing, Samasource uses a proprietary internet-based model called “microwork” to break down large-scale digital projects from clients into smaller tasks for workers to complete...
Failing to equip young people properly has an estimated £28 billion loss to the economy. Young people 'Not in Employment Education or Training' (NEET) cost £4.6 billion per year.
However, as the report's authors conclude, if we get it right then the rewards are significant. The CBI estimates that better education could add £8 trillion to the UK's GDP over the lifetime of a child born today – the equivalent of 1% to GDP each year.
Those schools reporting higher levels of enterprise education embedded into the curriculum feel that it improves the retention of pupils at risk of disengagement
*Report refers to another "Changing the Pace" report by CBI/Pearson
It was estimated in 2012 that youth unemployment would cost the exchequer £4.8 billion - more than the budget for further education for 16 to 19 years old in England - and cost the economy £10.7 billion in lost output. More worryingly, it'll ratchet up further future costs of £2.9 billion per year (equivalent to the entire annual budget for job centres) and £6.3 billion per annum to the economy in lost output...