Youth Speaking Out

IMF Blog, March 5, 2012

Source details

Publication title: Youth Speaking Out
Author: Jeremy Clift
Date: March 5, 2012
Core message: Young people, hardest hit by the global economic downturn, are speaking out and demanding change. Coming of age in the Great Recession, youth face an uncertain future with lengthening job lines, diminished opportunities, and bleaker prospects that are taking a heavy emotional toll.
Quotation: “Young people want a world economy that is more just, more equal, and more human,” says Angel Gurría, secretary-general of the Organization for Economic Cooperation and Development.
Framing: Some label contemporary youth the “iPod generation”—insecure, pressured, overtaxed, and debt-ridden—yet many are actively challenging a system they feel has let them down.

Baby boom generation (post–World War II):
- Characterized as experiencing a wealth crisis.
- A generation that had hoped to retire has seen the value of its property and savings dramatically eroded.
Gen X (born 1965–80):
- Characterized as experiencing an income crisis.
- Should be in peak earning years, but the downturn has depressed salaries and threatens pensions.
Gen Y (1981–2000):
- Characterized as facing an uncertain future and a potentially damaging legacy from the boomer generation.

The March 2012 issue focuses on the need to urgently address challenges facing youth and create opportunities for them.
Content highlights in this issue:
- Harvard professor David Bloom outlines the scope of the youth problem and emphasizes the importance of listening to young people.
- Articles on improving education and skill levels.
- Analysis of the effect of the crisis on youth in advanced economies.
- Discussion of the role of the IMF in addressing youth challenges.
- Voices of six young people around the world describing their hopes, aspirations, and how the crisis has affected them.
Additional magazine features (also in the same issue):
- A profile of Fred Bergsten.
- Examination of the rise of the Chinese currency.
- Analysis of the role of credit rating agencies.
- Discussion on how to boost the empowerment of women.
- A primer on macroprudential regulation, highlighted as increasingly important to financial stability.

Source: Youth Speaking Out (Jeremy Clift), March 5, 2012.