The Crisis of Youth Unemployment in the MINT Countries: Causes, Consequences and Corrections

Durotoye, Adeolu (2014) The Crisis of Youth Unemployment in the MINT Countries: Causes, Consequences and Corrections. The Crisis of Youth Unemployment in the MINT Countries: Causes, Consequences and Corrections, 6 (24). pp. 1-14. ISSN ISSN 2222-2839

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Abstract

One of the main determinants of classifying the MINT countries (Mexico, Indonesia, Nigeria and Turkey), as potential economic power bloc is the young population of these countries which is considered an asset. Youth are expected to be at the forefront of social, economic and political developments. They are the engine room that propels any society to greater heights. The progress of any society is based therefore, among other elements, on each society's capacity to involve young women and men in building and designing the future. The developments experienced in the Western world from the 1960s could be attributed largely to the contribution of the baby boomers’ generation born after the 2nd World War between 1946 and 1964, who right from their teenage years contributed immensely to the development in the West. Same feat is being expected from the youth of the MINT countries by the MINT proponents but there is a crisis of youth unemployment. This paper looks at the crisis, causes, consequences and corrections of youth unemployment in the MINT countries. These youth have become a “generation at risk” because of the lack of sufficient or sustainable decent work making them extremely vulnerable. The paper will conclude that solving the problem of unemployment in the MINT countries through effective policy measures such as reprioritization of the agricultural sector, reformation of educational system and provision of enabling environment will be very critical to their emergence as economic power-bloc in the next 20 years.

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