Analysis of the European Union’s Supportive Measures for Overcoming Challenges of Youth Unemployment

Youth unemployment in the European Union countries has been a problem for many years, and an evident increase occurred during 2020 under the influence of the COVID-19 pandemic. According to the OECD report (The Missing Entrepreneurs, 2021), many young people had problems finding adequate employment in that period. In 2020, unemployment among young people up to the age of 25 in the countries of the European Union increased by 2.8% compared to the previous year; at the same time, the unemployment rate of young people aged up to 29 increased by 1.4%. High youth unemployment rates reflect the challenges they face when looking for a job. The most common problem is a lack of experience because employers seek experienced and qualified workers. According to Eurostat data (2023), from 2002 to 2022, the highest unemployment rates were from 2012 to 2014. A decrease in the unemployment rate followed it and lasted until the second quarter of 2020, when a significant increase occurred under the influence of the pandemic. Between 2014 and 2020, the European Union worked intensively on youth support programmes to reduce unemployment. In order to analyse the trends in youth unemployment between the ages of 15 and 29 and to make predictions about future trends, the chapter will examine the unemployment rate in the period from 2002 to 2022 with a parallel analysis of the European Union measures developed and implemented to create opportunities for easier and faster job finding.