The Global economy is currently in the largest financial crisis since the 1930’s and has been since 2008. The crisis began in the United States triggered by a complex interplay of valuation and liquidity problems in the banking system in 2008. This in turn crashed the U.S.housing market which peaked in 2007, caused the values of securities tied to U.S.real estate pricing to plummet, damaging financial institutions globally. Governments worldwide were then forced to bail out there banks and building societies. This banking crash effected all industries and created mass unemployment and a lack of job security for billions. The official jobless figure stood at 205 million in 2010 and by January 2011 it was reported that more than 1.5 billion people – half the global working population – in vulnerable or insecure jobs. With people not able to find work and governments constantly cutting benefits the situation has grown. Now in 2012 the global economy seems to be facing further downturn this is due to Persistent high unemployment in the United States and low wage growth are holding back aggregate demand and, together with the prospect of prolonged depressed housing prices, this has heightened risks of a new wave of home foreclosures. The International Labour Organization reported that “It is unlikely that the world economy will grow at a sufficient pace over the next couple of years to both close the existing jobs deficit and provide employment for the more than 80 million people expected to enter the labour market during this period”. Also youth unemployment has been rising in both developed as well as developing economies, a trend which could have far reaching implications. This has huge economic costs in terms of loss of skills and motivation, and could lead to human capital depreciation there may also be accompanying social implications in terms of increased social strife, riots, illness, and so forth. Therefore it seems governments must put as much money as possible into the youth or this trend and crisis will continue for many years to come due to an aging population and unmotivated youth.