The US should raise significantly federal funding on jobs programmes for young people in order to limit the impact of the economic downturn on the current generation of school leavers, according to a new OECD report. Given the pressure on public finances, this may require some reallocation of federal funding towards youth programmes.

Jobs for Youth: United States says that despite signs of economic recovery, the outlook for young people in the jobs market will remain difficult in the coming years. In the year to November 2009, the youth unemployment rate rose by 8 percentage points to 19%, equivalent to 1.6 million more young people out of work.

Teenagers have been hit especially hard: just over one in four 16 to 19 year-old Americans were unemployed in November 2009 compared to one in ten for all workers. This is the highest rate of teenage unemployment in the US since World War II.

“The short-term priority must be to help the young people most at risk to avoid the long-term scarring of a generation of young Americans,” said OECD Secretary-General Angel Gurría.
 
“Business must play its part in creating jobs but the government has to act quickly to extend financial support to more young people and increase funding for re-employment programmes. Longer-term, investing more in education to give young people the skills they need to succeed is essential.”

The crisis has highlighted the urgent need to tackle structural issues affecting the labour market, according to the report. Programmes targeting school leavers with the bleakest job prospects, notably African-American youth, those with poor qualifications and teenage mothers, are heavily underfunded, reaching just 5% of those people. Without financial support and help to find work or retrain, many end up in long-term unemployment or inactivity, entirely disconnected from the labour market.

The federal government should focus its efforts on three areas, says the OECD. First, extend financial support to unemployed youths to prevent them withdrawing from the labour market. Second, spend much more on the currently underfunded job programmes for at-risk young people. Third, ensure young people leave school with the skills needed in the labour market.

The OECD recommends the US introduce measures, including:

• Temporarily relax unemployment benefit eligibility criteria for youths with some work experience, but apply strict job-search requirements;• Expand existing early-childhood education programmes and provide more support for parents and children when they go to primary school;
• Extend vocational training by rolling out nationwide Career Academies, small learning establishments within high schools combining academic and technical education;
• Broaden the role of the Office of Apprenticeships to include funding responsibilities and introduce subsidies and sub minimum wages for apprentices in order to promote the use of apprenticeships in SMEs and for teenagers and at risk youths;
• Favour summer jobs programmes for at risk youths who are still at school;
• Expand the Job Corps programme for young adults and encourage teenagers to stay on the programme longer and do more vocational training.

 
Jobs for Youth: United States is the latest in a series of OECD reports on youth employment policies that now covers 14 countries.

According to the Associated Press “Tehran residents say authorities have moved to limit Internet access ahead of expected anti-government protests to deny the opposition a vital means of communication” as reported on miamiherald.com

Well this makes me thinking that yesterday while travelling on my train in Italy and in Rome around the streets it is fairly difficult to have a wireless free internet connection. And yesterday in Rome there was the “No Berlusconi” day protest.

Do Italy and Iran have something in common on this?

I just received via email a report from the OECD showing that unit labour costs are on the rise in the second quarter of 2009. For what concerns Italy the costs of labour are on the rise as well.

 

Unit labour costs rise strongly across OECD economies in second quarter 2009

Unit Labour Costs (ULC) for the total economy grew 0.8% in OECD countries in the second quarter of 2009 and rose 3.6% year-on-year. The strong growth was largely driven by falls in real output (gross domestic product at constant prices) due to the crisis.

The rise in unit labour costs for the total economy in the major seven economies was 0.7% in the second quarter of 2009 which was lower than the 1.3% recorded for the Euro area. Unit labour cost growth for the total economy in the United States remained at 0.6% for the second quarter of 2009, due mainly to a 1.6% fall in labour costs in market services.

Unit labour costs in industry grew 1.5% in the second quarter of 2009 in OECD countries and were up 7.2% year-on-year.

Lip Dub – Flagpole Sitta by Harvey Danger from amandalynferri on Vimeo.

I’ve got this email from FT.com and I think it’s very interesting and want to share it here.

LONDON: 5 November 2009: Islamic banking continues to see strong growth while conventional banking has stagnated, according to the 2009 Top 500 Islamic Financial Institutions in The Banker magazine’s November issue.

The assets held by fully sharia-compliant banks or Islamic banking windows of conventional banks rose by 28.6% to $822bn in 2009, from $639bn in 2008. This is a striking contrast to The Banker’s 2009 Top 1000 World Banks survey in July, which showed annual asset growth of just 6.8% at conventional banks. Islamic finance as an industry is building a solid track record: the compound annual growth rate for 2006-2009 is 27.86%, with assets forecast to hit $1033bn in 2010.

Brian Caplen, editor of The Banker said – “A conservative approach to risk and close links between the financial sector and real assets has helped shield the sector from the worst of the credit crisis. Finding improved ways to manage liquidity at Islamic banks, as well harmonising sharia and prudential compliance between institutions and markets, remain significant hurdles, but transparency and financial reporting remain challenges for the Islamic banking industry.”

The Gulf Cooperation Council (GCC) states remained the dominant segment of Islamic finance, with $353.2bn or 42.9% of the total global aggregate. Iran remains the largest single market for sharia-compliant assets, accounting for 35.6% of the global aggregate. Outside the Middle East, Malaysia remains by far the largest player, accounting for 10.5% of the global aggregate, but other markets are expanding rapidly. The UK now accounts for just under 2.5% of global sharia-compliant assets, and the Syrian Islamic finance market expanded an eye-catching 500%.

Now in its third year, The Banker’s Top 500 Islamic Financial Institutions is an annual industry benchmark, ranking retail, commercial and investment banks, insurance companies and asset managers according to their sharia-compliant assets.

Delegates at this year’s Islamic Financial Intelligence Summit, the physical event of the Top 500 Report, received copies of the report and industry professionals discussed the findings of the rankings and research report. In addition to the published report, The Banker’s Top 500 Islamic Financial Institution rankings data is also available online as a research tool.

I just got this email from this address lucmbeki@aol.com
Below you can read the entire message, actually the whole correspondence. I suggest to delete it as it is a SCAM or SPAM or whatever of the like.
This is the Google result confirming what I supposed.

Dear Piervincenzo Canale,

I am glad to read your mail, I appreciate you for your interest in this issue and your willingness to assist me in executing this project I will provide you with more details so that you can have a better understanding.
 
Like I told you before in my previous mail, I’m a sales and account manager in a financier consultancy firm here in Madrid ,this fund available is exactly €12,600,000.00 in Euro currency deposited by some third- world leaders, for investment purposes, but not to be used in any governmental Organization.
 
This fund is presently deposited in my country offshore payment center in Madrid Spain with my inside contact who assisted us.
 
We need a partner or partners that have a very good business experience es and specialist in any business or investment of his choice, and in all an honest and sin cere partner. And after going through your profile a nd kind of business you are20into,I and my partn ers are very impressed and we think this is a business that we can invest in as it is a profit oriented business and we know that investment is safe and good in your country.
 
However for the immediate application for the release of t his fund, As it is presently still be deposited in a bank in a bank in Spain,you will need to forward to me; your full names, your telephone and fax number(s) home address details for us to draft the deeds and agreement which I will send you to study and subsequently sign and return to enable us obtain the relevant documents you shall forward to the financial institution where the funds is deposited.
 
I wish to assure you that the entire process involved in this transaction is completely safe and legal. All I require from you is your maximum cooperation and we shall be done with this transaction in the shortest possible time.
 
The funds in question are presently in an escrow account with the bank here in Spain. But we would need a foreign partner that can assist us stand as the beneficiary of this funds for us to be able to now have it transferred out of Spain to a safer loc ation.
 
All you need to do in this transaction, is for you to open an offshore account with the Bank where the funds is presently deposited as the beneficiary, and as well help us transfer it to your bank account in your country until our arrival for the sharing, once we have accepted the terms of this transaction so that we will not pass through those rigorous process when transferring the funds from the escrow account and with the inside connection we already have it will be faster easier and safer.
 
As soon as you are able to do that the bank w ill transfer the funds from their escrow account to the account, which you will open with on20your name as the beneficiary because we have all secret and access codes to this account in question on from the day it was deposited there, from the RBS South Africa.
 
As soon as we have this funds deposited in your new account  with the bank, you can now start withdrawing the funds bit by bit to your other accounts in your name, for onward investment in any investment we will agree on.
 
Regarding the documents we sha ll present for the fund release authorization your infor mation would be taken to the probate division of the reserve bank of South Africa with my connection as an ex-personnel of the RBS. and this will take just three days.
 
Note that we have spent allot right from south Africa to get this transaction to this stage ,you are not sending us any  funds or any upfront, so please erase that impression from your mind as we are not after your funds but your investment ideal oversea. All you need do is handle the account opening aspect with the bank as the beneficiary and we will take care of other requirements back here
 
After the confirmation of your particulars at the RBS, the probate division would now release your letter of administration for claims to these bequest/funds. As a contractor that executed a contract with the department of mineral resources and energy DME there in So uth Africa, and that this f funds was transferred to you in Spain.
 
We will take full responsibility of all expenses needed for most of the documents in South Africa and all the clearances from the relevant ministries in Johannesburg notably, the registration of a company name and the payment for the unclaimed Certificate of Deposit issued by the Security Deposit Bank, this will give you the legal ba cking in receiving these funds here in Spain, and as soon as this documents are out, Our assigned lawyer Barrister Larisa Na pnca,Woud submit them personally to the bank for endorsement.
 
You should not have anything to worry about. We will do everything legally required to ensure that the project goes smoothly, it shall pass through all Laws of International Banking as all modalities are already in place.
 
Having resolved to entrust this transaction into your hands, I want to remind you that, we need your commitment and diligent follow up. If you work seriously=2 0the entire transaction should be over within 12 banking days.
                                                 
                           READ THE FOLLOWING AND GET BACK TO ME
 
Firstly, I will want to know your occupation and your age, you should note that this project is highly capital intensive.

This is why I have to be very careful, I need your total devotion and trust and confiden tiality to see this venture through, I know we have not met before, but I am very confident that we would be able to establish the necessary trust that we need to execute this project.
 
Before I commence, I will need you to send me a valid copy of your identification document (Driver’s license or International passport) I will do same in my next correspondence to you, As soon as we are satisfied that you can handle a transaction of this magnitude.
 
I really want to ensure that we authenticate our identity and affirm our business relationship. And please note that we are offering you 20% from the total sum, So please have that in mind, as we cannot offer you more than that, As i have some partner and lawyer to settle back here, as soon as we have this funds deposited in your designated bank account.
 
As soon as I get these from you, the paper work will be commenced on.
 
Please I need to know your occupation, official position and experie nce in your field. I hope you will understand why I need all these.
 
The money in question is huge and I want to ensure that I know you well before I proceed to give you all the other details to commence the project. I will send the name and contact details of the bank to you so that you can establish a correspondence with them, as soon as we have an agreement.
 
As soon as I get the required details from you as listed above, Our lawyer will draft an agreement letter and deeds which I will send to you to sign.
 
Since you will be standing as a contractor that executed the contractor with DME department of mineral and energy in South Africa, I will also send to you a document that will put you in place as my foreign partner in the said contract with the DME.
 
It is this document that will serve as a cover for the funds in case at=2 0any point the authority wishes to know the origin of the source of the funds.
 
As soon as Barrister Larisa is through with the document, she will send them to you.
 
I want you to see yourself as partner in this transaction, as I have perfected all modalities to actualize this trans action.
 
I await your email to kno w our next line of action.
 
Best regards                                                                                                  &nbs p;                                             
Mr. Zinfy Lucas Mbeki                                                                                                                                                                                                    
Sales and Account consultant                                                                                          
Edifica Caja de,Avinguda                                                                                                                                            &nbs p;                                                                        Madrid Spain

—–Original Message—–
From: Piervincenzo Canale, direttore Africanews.it <direttore@africanews.it>
To: lucmbeki@aol.com
Cc: lucmbeki@aol.com; lucaszmbeki@aol.com
Sent: Tue, Sep 22, 2009 3:50 pm
Subject: Re: Sourcing For A Reliable Partner And Investor

Good morning,

I hope the email you sent is not a spam.
How did you get the newsroom email address?

Let me know more about your investment and your interests.

Thanks
Piervincenzo Canale,

Tuesday 22nd September 2009
Attention:

My name is Mr. Mbeki Lucas, I am a South African man by birth and resident in
Spain. I am a sale and account manager in a financial Consultancy firm here in
Madrid. My Company is mandated to source for reliable investors in the World
over to invest available funds in profitable business ventures.

Please, get back to me to enable me forward more information to you all we need
is to ascertain your credibility, resourcefulness and experience.

I earnestly await your response.

Regards,
Mr Mbeki Zinfy Lucas
Sales and Account consultant
Santerde Investment Coy.
Edifica Caja de,Avinguda
Madrid Spain
Email: lucmbeki@aol.com
Email:lucaszmbeki@aol.com

Watching the latest appearance of Berlusconi on TV makes me thinking that Italy, my country, is really in deep trouble. Not because is Berlusconi now serving as prime minister. But because whatever one, and I mean anyone, think something that goes in the opposite direction or just slightly different from the will of the “prime minister-media tycoon”, is soon or later made looking ridicule, mad, etc.

This seems to me to a new 21st century form of regime, of dictatorship for the conscience, for the mind.

I have one image in my mind: Berlusconi reading something, Vespa (the journalist) that has to stop him to start the adverts and when Vespa tried to stop Berlusconi with more decision, the prime minister placed a hand on Vespa’s right arm and continued reading. Vespa later said: “mister prime minister you’re not allowed to do this again”. Of course Berlusconi finished what he wanted to finish.