Youth Employment and Unemployment in the Digital Economy Epoch

Abstract

The digital economy, as a result of the fourth industrial revolution, is gradually becoming the leading direction of modern development. Unlike other technologies, digital and cognitive ones tend to penetrate into any technical processes. Digitalization is becoming an integral technological platform capable of uniting all subjects of the market area into a single economic mechanism. The rapid development of technology requires a comprehensive study of this process influence on the economic and social life of society, especially the young generation. Analyzing the problems of youth employment and unemployment, one can see the consequences of the digital economy such as changes in the content and organization of work, structural changes of the active population for the employed and employed, dynamic changes within the category of employees according to professional, sexual, regional, national and gender aspects. The ambiguous and sometimes contradictory impact of the digital economy on youth employment determines the methodological interrelationship of the latest technologies and the sphere of social and labour relations. The combination of scientific, technical and humanitarian knowledge makes it possible, firstly, to develop practical recommendations for the economic life of society based on the nature-like technologies, and, secondly, to formulate a system of human capital competencies. The significant negative consequences of digitization of the economy is unstable and youth unemployment. Neutralizing the negative impact of the digital economy is the basis of creating an inclusive environment, developing national programs to support youth employment, and standardizing rules on employment regulation.