1. Introduction
Young individuals are a particularly vulnerable group in the labour market.
Their unemployment rate typically exceeds that of the adult generation
(O’Higgins, 1997). This is, for example, due to the fact that young people face
the critical barrier in entering the labour market. Youth unemployment has been
globally increasing over the last years (see Figure 1). Despite a brief recovery in
2007/2008, it was projected to stand at 12.6 per cent in 2013. At the beginning
of 2014, there was an estimated number of 74.5 million unemployed youth.
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This means that currently more than 73 million youth are unemployed.
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