Impacto de la política de empleo juvenil en la disminución del desempleo en los países de la Unión Europea, período 2002-2017[Impact of youth employment policy on the reduction of unemployment in the countries of the European Union, period 2002-2017]

Unemployment in European countries is a subject of transcendental importance to analyze, because they are the nations that receive the greatest number of migrants who go in search of employment. This scenario ignores the local labor supply for young people, which leads to greater informality and lower productivity. Governments through policies and laws try to deal with this problem, so in 2013, member countries of the European Union decided to allocate 20% of their funds to promote youth employment, the objective of this study being to evaluate how this policy has influenced unemployment. Thus, this study contributes to the literature, since there is limited information on the evaluation of policies focused on the insertion of young people into the labor market. Therefore, an econometric model with panel data was developed, obtaining information for 26 EU countries, from the World Bank (2019) and UNDP (2018) databases. The results determined that allocating funds to youth employment makes it possible to reduce unemployment, despite the fact that its effects were shown in the long term and with variations in the coefficients of the countries grouped by their income level. Policies should focus on greater public spending on education, health and safety to promote a more productive and efficient human capital and, above all, that has job stability.