Youth employment has worsened dramatically since the financial and economic crisis of 2008.
In economies with large young populations, the number of formal jobs available is insufficient to employ all youth entering the working population and to offer them prospects of a decen wage.
Harnessing entrepreneurial talents amoun hyoung people and easing constraints of the labour market is vital for employment generation and inclusive growth.
Current demographic trends and the explosion of youth unemployment is forcing youth entrepreneurship to the centre of global policy discussions and of the post-2015 development agenda.
Gripping the development needs and rights of young people, and empowering them, is a priority for both the Commonwealth and the United Nations.
The Policy Guide on Youth Entrepreneurship developed jointly by UNCTAD and the Commonwealth, is an important contribution to the efforts of the United Nations system and the Commonwealth to find solutions to address the challenges facing young people.
It aims at supporting policymakers in developing countries and in transition economies to design policies and programmes, and to establish insitutions that will promote youth engtrepreneurship, providing the foundation for achieving job creation through the development, expansion and growth of youth-led entreprises.