Kofi's Solution For Youth Unemployment: Government Control

UN Chief Kofi Annan suggests a way to bring down high youth unemployment, which he seems to believe all countries share equally. The solution? The government needs to do a better job to control the supply of labor and offer job placement.

Labour market policies should be reviewed to better balance flexibility and security that both employers and workers need in a fast changing world. At the same time, strengthened job placement schemes can help ease the entry of first-time job seekers into the workforce.

Another way could be to make it easier for companies to hire and fire workers, as well as reducing the minimum wage for youths. Demand for labor would increase and eventually, high demand will force higher wages through a natural economic system.