Factors Affecting Youth Unemployment: Empirical Assessment in the European Union Countries

Abstract This article aims to assess the influence of factors on youth unemployment in the European Union. The study evaluates several significant factors: GDP growth, education of young people, migration of young people, and average wages. Using multiple regression analysis, the study aims to investigate the relationship between these factors and youth unemployment. The results show that none of the chosen factors have a statistically significant impact on youth unemployment. This may be due to the fact that the chosen factors can have a lagged effect, which was not tested in this study. Additionally, the results revealed that, when solving the problem of autocorrelation, an included lagged youth unemployment variable has a statistically significant effect on youth unemployment.