Quality Eduction Is a Guaranteed Solution to Unemployment

Quality Education is a guaranteed solution to unemployment
Unemployment and poor economic growth around the world is paramount. According to the United States Statistics Census Bureau, there are about 7.076 billion people around the world as of March 2012. The estimated number of people as of March 7,076 billion people being living in the world and of that figure an estimation of 3 billion people are employed and 205 million people are unemployed (http//www.guardian.co.uk/news/databloc/2011/global-economy). Of the Arab population, 25% of the youth are unemployed and is estimated as the world’s highest while the female youth unemployment is estimated to have reached 30%. Two thirds of young people surveyed in the Arab believed they do not have the skills required to get a job. It is widely suspected that revolution taking place across some of the Arab nations is fuelled by a generation of youth who are over educated or illiterate and unemployed. We may be tempted to think that the world is heading for a great socio-economic disaster should a solution not befound in the next 100 years. In South Africa unemployment rate decreased to 24.9 in Q4:2012 (StatsSA: Quarterly Labour Force Survey, Quarter 4 : 2012) We associate employment with high standards of living and unemployment with poverty. Economic theory suggests that a good quality of education is a guaranteed solution to reduce unemployment,   while some believe there are many ways to success and increased employment.

It is widely believed that most of the entrepreneurs (self-employed) and wealthy individuals did not receive quality education, for an example people like President. J.Z Zuma of SA who never received a form of formal education, former US President. A Lincoln who was self-educated, Mr Frederic Doughlas who received informal education and yet they became highly successful during their lifetime. Some would argue that education is no longer that significant because there are currently about 600 000...