EU4Youth launched the National Steering Group on Youth Employment and Entrepreneurship in Armenia

Yerevan, Armenia: European Union co-funded EU4Youth Phase III Youth Employment and Entrepreneurship programme launched the National Steering Group on Youth Employment and Entrepreneurship in Armenia.

Acting as a long-term platform for collaboration, the National Steering Group brings together stakeholders from diverse sectors such as the public, private, and third sectors. Together, they strive to boost the employability, employment, and entrepreneurship opportunities for the youth in the country. Through promoting open communication and consultation, the primary aim is to enhance job prospects and nurture entrepreneurial initiatives among the youth.

Youth unemployment has drastically increased in Armenia in the last 18 years, reaching over 24.6% in 2022, according to the World Bank. The number is one of the highest among the European Neighbourhood Policy-East countries. Meanwhile the national unemployment rate in Armenia is much lower, marking 12.6% last year. The data also revealed disparities between young males and females. Female youth unemployment rate is over 19.7%, while about 25% of young males in Armenia are without a job.

Harnessing the combined knowledge and experience of diverse stakeholders is essential for developing comprehensive and impactful strategies to address not only youth employment, but employability in Armenia as well. This is where the National Steering Group comes in, playing a crucial role in guiding the initial stages of initiatives and ensuring their successful execution in the future.

The ongoing work of the National Steering Group aims to create a more conducive environment for graduates to find promising job opportunities across diverse sectors throughout the country. Young individuals in Armenia often face a complex and uncertain journey when transitioning from education to the workforce. Economic factors like limited job opportunities, high unemployment rates, low wages, and a lack of information about potential career paths contribute to this challenging experience.

The group strives to foster cross-sector cooperation, creating an environment that encourages innovation and empowers young individuals to pursue their entrepreneurial ambitions. As a result, target youth will be equipped to make meaningful contributions to the economic growth and development of their local communities.

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The EU4Youth Phase III Youth Employment and Entrepreneurship programme, funded by the European Union and the Ministry of Foreign Affairs of Lithuania, is being executed by the Central Project Management Agency (CPMA) in Eastern Partnership countries. These include Armenia, Azerbaijan, Belarus, Georgia, Moldova, and Ukraine. The programme will run until the end of 2024 and aims to provide technical assistance to governmental and non-governmental organizations in their efforts to tackle youth employment and enhance employability. The EU4Youth Phase III Youth Employment and Entrepreneurship programme has a strong focus on empowering youth in partner countries through three key areas. The first area is skill development, which includes fostering digital, green, entrepreneurial, and career management skills among young individuals. The second area involves establishing institutional structures that encourage collaboration between public, private, and non-governmental entities, with the goal of enhancing employability and creating more career opportunities for disadvantaged youth. Lastly, the programme offers scholarships to deepen young individuals’ understanding of European politics and governance in Eastern partner countries