This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

AP Debate: Training Needed To Redesign Job Market

That experience has left a growing number of technology experts and economists pondering whether middle-class jobs will return when the global economy recovers, or whether they have been lost forever.

Italian Finance Minister Vittorio Grilli, also at the debate, argued that technology doesn't have to be the enemy, and "will provide a second wind to advanced economies."

Young people in the job market don't all feel they're getting education that fits today's demand.

"The quality of courses is not up to standard at all," said Lucy Nicholls, a 22-year-old fashion graduate in London. She was speaking Friday in a Google hangout video chat as part of AP's Class of 2012, an exploration of Europe's financial crisis through the eyes of young graduates facing the worst downturn the continent has seen since the end of World War II.

Emerging markets may offer some ideas to the developed world in its new jobs conundrum.

Turkish Deputy Prime Minister Ali Babacan, whose country has generated 4.6 million jobs over the past five years, credited the performance on a host of innovative policies, such as paying the wages of some young people when they first enter the workforce.

"The biggest problem is the cost of entry to the job market," he said. "If an employer thinks it is less expensive to hire, then employment becomes easier."

Nobel Prize-winning economist Joseph Stiglitz suggested focusing on "green, renewable jobs" to help solve the youth unemployment crisis as well as the planet.

In Europe, where youth unemployment is a huge issue, particularly in Greece and Spain where the rate stands at over 50 percent, the job market overhaul will not be easy and certainly won't be fast.

"It's a slow process and unfortunately it's going to be a painful one," Italy's Grilli said. "It involves people changing their lives."

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,900.45 -85.16 -0.50%
S&P 500 1,965.80 -7.03 -0.36%
NASDAQ 4,403.4870 -15.5470 -0.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs