JA Europe, Visa Europe seek input to address the financial skills gap

Published on 16-03-2016 by admin

JA Europe and Visa Europe launch a new survey on financial education, as an endeavour to analyse the financial skills gap faced by young people in Europe.

The survey aims to identify the gap between young people’s financial capability and employers’ needs in terms of financial skills and knowledge.

In the context of the second edition of European Money Week, JA Europe and Visa Europe, in collaboration with the European Banking Federation, the Organisation for Economic Co-operation and Development and the Vienna University of Economics and Business, today announced the launch of a survey exploring employers’ needs in terms of the financial skills and knowledge of young people entering the workforce.

Young people today are growing up in an increasingly competitive and fast-paced world.  Not only are technology and consumer demand driving big changes in how we pay, transact and manage our money but getting on the career ladder has arguably never been tougher. New research launched today aims to support young people by building a better understanding of the financial skills needed by employers.

“We see financial literacy as a key transversal supporting long term outcomes like entrepreneurship and employability. It is a must for individuals as they manage their own careers, livelihoods and families. Young people are too often caught by the complexity of financial matters,” says Caroline Jenner, CEO of JA Europe.

In addition to five case studies on good practices on financial education in Poland, Romania, Spain Turkey, and the UK, the survey is designed to identify the gap between young people financial capability and the employers’ needs in terms of financial skills and knowledge.

High-level executives from the business community across Europe are invited to contribute and pinpoint key financial capability requirements of their future employees.

“Electronic payments are changing the way that we pay and are paid at an unprecedented speed. This pace of change makes it all the more vital that we equip young people with the money management expertise they need for work and life in a digital world.  We are proud to join together with JA Europe to support this important research which will aid understanding of the gaps that exist today and identify the need for financial education in the 21st century across Europe,” Fiona Wilkinson, Chief Communications Officer, Visa Europe.

Learn more about the survey HERE. The results will be presented in Brussels on 27 September 2016.