Youth unemployment rate rises 10pc

past year and is likely to continue rising, economists have said.
The youth unemployment rate in the formal sector rose from 70 percent in December 2009 to 80 percent last December.
In an interview last week, Economic Resear-cher Mr Nyasha Muchichwa said lack of employment creation and continued retrenchments by most firms had impacted negatively on youth employment.
“The formal sector accommodates very few youths as most of them turn to the informal sector which is easier to penetrate. Eighty percent of the informal sector is made up of youths.
“There have also been continued retrenchments in the formal sector due to the economic hardships that companies have been facing and this has contributed to the increase in the number of unemployed youths,” Mr Muchichwa said.
Most youths are into buying and selling of several commodities and clothing items, which has seen them going time and again to neighbouring countries for stocks.
Mr Muchichwa said unless the National Empowerment Policy Framework adopted by Government was fully implemented, youth the unemployment rate in the formal sector would continue to surge.
“The National Empowerment Policy Framework was put in place in a bid to provide opportunities for youth employment and should be fully implemented if the unemployment rate is to go down.
“Because the policy looks at other alternatives of youth job creation, its full implementation will lower the percentage of unemployed youths,” said Mr Muchichwa.