The job market has never been this tough for young people and the economy is in turmoil.
But many job creators are turning to a new strategy to address the crisis.
The U.S. Bureau of Labor Statistics recently reported that the jobless rate for young adults has fallen to 8.1 percent from 10.9 percent a year ago, the lowest rate since the recession began in late 2009.
Some companies have been retraining employees in fields like software development, and they’re finding that retraining is a great way to grow a business.
But hiring is also on the rise, and experts say it’s an important way to keep young people in the workforce.
“There are two different ways to hire.
You can go hire them, and you can hire them in a different way, which is what we are doing in this country,” said Jason Karp, CEO of The Center for Talent Innovation.”
The first way is to retrain people, but we have to think about the long-term sustainability of those people.
The second way is retraining them, but that can also be a big risk, because there’s a whole other pool of people that might come in,” he said.”
You don’t want to lose those people who come in because they have the talent,” Karp added.
Retraining, a growing industry in the U.K., Australia and New Zealand, is one way to do it.
In Britain, for example, one of the largest employers of retraining, CareerBuilder, says it’s helping recruit and retain nearly 700,000 young people since 2011.
It’s also paying out more than $100 million in scholarships and grants to employers who use retraining to hire people.
“We hire people and we retrain them,” said Brian Behan, CEO and founder of CareerBuilder UK.
“That’s the biggest thing for us.
We’re not hiring for the sake of hiring.
We want to retain those people because they’re the best people.”
Employers are also finding it harder to retain people with disabilities.
According to the British Medical Association, the number of people with intellectual disability who are unemployed or underemployed has risen from 16 percent in 2016 to 19 percent in 2019.
The number of adults with disabilities who are underemined, or out of work, is rising as well, reaching 23 percent of adults in the UK in 2019, according to the Bureau of Statistics.
“If you look at unemployment and underemitments as a whole, the one thing that is changing is that people with mental health conditions are much more likely to be unemployed,” said Dr. Michael Schouten, director of research and policy for the BMA.
“People with mental illness are more likely than others to be underembedded, to be out of employment or not be in education, and so people are finding themselves in that situation, which has a lot to do with mental conditions and being out of the workforce,” he added.
One company, U2, is now using technology to teach people how to code to teach them to become computer programmers.
U2, which includes several artists and singers including Pharrell Williams, recently launched a program called Code School.
It allows young people to learn to code on a computer for free.
The program was originally funded by U.N. agencies.
It offers free online classes for up to two years for people ages 13 to 24.
Students can code for free for two years, but they have to pay a monthly fee, which costs around $30.
That’s not all that’s included in the program, either.
Students also get free mentorship and mentoring opportunities.
The company says it can help people with “diseases and disabilities,” but the U2 team has a long history of helping others.
“They’re really focused on how to make it as a young artist, not how to go into the workforce, but just to give back to the community and give them a better education and help them to have a better life,” said Lisa O’Brien, a U2 UK representative.
“When they say, ‘we’re going to teach you coding, and we’re going do the mentorship,’ they’re really focusing on their own learning as an artist,” she added.
U.S.-based technology company iRobot recently announced it would launch a program for students in Australia.
The company says its programs are designed to “teach young Australians to code and to get them up and running with their career plans.”
The program, called iRobots STEM Mentorship, will teach the students the basics of programming, while providing mentoring and technical support.
The program will last until the end of June 2019.
“What we do is we go to schools, we train teachers, we have mentors and technical assistance,” said Mark O’Connell, iRobos STEM Mentor.