Hello friends, welcome to rkwebnews. Today we are going to talk about lack of investment in youth services is failing future generations.
In the U.S. today there are 6.7 million ‘opportunity youth’ individuals aged 16-24 who are neither working nor in school or college. This is one in six of the country’s entire youth population. Opportunities Youth have different characteristics: about half of them have not effectively completed schooling beyond the age of 16 and have very limited work experience.
During the years up to the age of 25 years. Many are in poverty and some are involved in criminal. A significant portion is institutionalized during activities, at least for some period of his youth. Without many families, public and community support, these young people will experience significantly fewer opportunities in their lifetime.
Opportunities for youth The situation has worsened dramatically over the past decade: this decade is not only a ‘lost decade’, but a ‘destroyed decade’ as the outlook for youth has worsened rather than stagnant. This decline is not the result of more delinquent behavior among youth. Rather, it is primarily a function of current economic conditions. Opportunities The labor market opportunities for youth have diminished sharply as the cost of higher education has increased substantially. Over the past decade, the youth poverty rate has increased by more than a quarter: 26% of youth are now in poverty. With fewer prospects, these youth now face a heavy burden if they want to improve their skills through secondary education.
Opportunities The future trends are likely to remain unfavorable for the youth. The current Great Recession has had a particularly damaging effect on youth–more generally than the recession itself. Broader occupational and labor market trends—as well as demographic patterns—are declining in favor of skilled workers and the labor market for less-skilled workers. Fiscal trends—rising costs of incarceration and health care—add to the pressure of investing in opportunity youth. The challenge is at the national level. Opportunities youth are spread across all states, but they are concentrated in particular communities.
What is Youth Service?
Youth service refers to the intensive participation of youth in non-military, organized activity that contributes to a local, national, or world community. Yuva Seva is widely recognized by society and the servers are given minimal or no compensation. The Youth Service also provides opportunities for youth development, a youthful voice, and reflection. This can take the form of a youth program where young people are recruited, offered leadership opportunities, participate in community-improving activities, and are trained and mentored.
The general definition of community service does not vary; however, understanding of what youth is varied by country. The most common age group defined as ‘young’ is 15-30 years of age. The United Nations defines youth as 15-24 years of age. The variation of whether the youth service is long-distance depends on the setting. Some communities consider long-distance youth service to be six months to two years of service; however, this time frame may vary with each country’s national youth service policy.
Who influences the investment decisions of youth the most in the country?
The survey has revealed that 40.2% of Indian youth are now investing more than before the era of the pandemic.
Out of 20 thousand people who participated in Groww’s survey, 79.30 percent of the youth believed that their investment journey started a year ago, i.e. in the era of Corona. The age of the youth involved in the survey is between 18 years and 30 years. According to the data, 18.3 percent of the youth have started investing in their life 3 years ago. Whereas 2.4 percent of the youth included in the survey are those who were investing before 3 years.
It has been revealed in this survey that 40.2% of Indian youth are willing to invest more than before the era of the pandemic. According to the survey, 26.6% of the youth admitted that the pandemic had no impact on their investment decisions.
Groww’s survey also revealed that 25.8 percent of the youth have also been such that after the decline in their earnings, they have also reduced investment. Rather, other youths have brought down investment due to the increasing threat given the epidemic. This survey was done to get a deeper understanding of the young Indian Millennials and where are their investments headed?
Based on the findings revealed in the survey, Harsh Jain, COO, and Co-Founder of Groww said that we are witnessing the positive inclination of Indian youth towards investment. Today’s youth are more conscious about their financial understanding. At the same time, he can make better investment decisions in his family than in the older generation. Groww’s survey understands how young people are investing and what their investment journey is like. The biggest thing that came out in this survey is that today’s youth are more focused on earning money.
It is clear from the survey that today’s youth have a lot of hunger to learn and understand. They are highly educated about the investment options available, which will help them make the right decisions in their journey to become financially independent.”
Whose influence on economic decisions?
Groww’s survey revealed that 30.6 percent of youth make their investment decisions based on the advice of friends and colleagues. While 27.4 percent believed that they make their investment decisions under the influence of news, 23.4 percent believed that social media. The lowest share of these is 13.9 percent of households and 4.6 percent of investment agents or advisors.
Among the youth surveyed, 59.8 percent believed that their investment objective is to earn money and make retirement a happy future, as well as their prime priority. While 9.5 percent of the youth believed that the motive behind their investment is to pursue better higher education, 30.7 percent said that meeting the needs involved in their lifestyle, traveling, and achieving other goals is their investment motive.
What is Financial Freedom?
According to Groww’s survey, 52.9 percent of youth believed that they invest to ensure their financial security as well as the security of their family, while 37.3% said that the financial freedom that comes with it gives them the power to decide how they want to live their life. Whereas 10 percent said that they want early retirement by adding more money so that they can get financial freedom.
The survey also revealed that lack of financial knowledge is the main reason for low investment. Also, due to the hunger to take less risk, people restrain themselves on the decision to invest more. But the good thing is that today’s youth are ready to understand the nuances of investing and think through investing in the future.
UN Chief Calls for More Investment from Youth
UN Secretary-General Antonio Guterres has called for more investment from youth on the occasion of International Youth Day. Guterres said in his message that ‘realizing the promise made to this generation means investing more in youth inclusion, participation, organization, and initiatives.
He said that I call on leaders and adults to do everything possible to enable the youth of the world to enjoy security, dignity, and opportunity and to contribute to the fullest of their potential. He also threw light on the plight of the youth. He further said that this year’s International Youth Day is about sustaining the lives and aspirations of youth due to the COVID-19 pandemic.
He said that some have lost their lives, and many have seen the loss of family members and other loved ones. Young refugees, displaced, young women and girls, and others who have been hit by conflict or disaster have become more vulnerable. He further said that some are burdened with taking care of others, while others may be involved in violence at home or on their own. Suffering from the prospect of not being able to resume education.
He said that the formation of a generation is in danger, which is marching towards adulthood or is struggling to make their mark and want to move towards self-reliance, but at the same time, he added that this generation has to Have resources and are engaged in something or the other. These are the same youth who are demanding climate action.
They are mobilizing for racial justice and gender equality and are champions of a more sustainable world. He is a peacemaker promoting social harmony in times of social distancing, advocating for an end to violence globally, and harmony in times of growing hatred.
We hope that you have liked this article very much. If you have any questions related to the article in your mind, then you can ask us by commenting. Don’t forget to share this article with your friends