ANALYSIS OF YOUTH INTEGRATION INTO THE LABOUR MARKET BY THE QUINTUPLE HELIX MODEL IN LATVIA'S REGIONS

In the current context of economic instability, youths are faced with the emergence of a feeling of uncertainty with respect to their own chances of having a good debut on the labour market. The world crisis, the social reality that all societies are faced with, brought again up to the forefront the idea of young individuals' fragility on the labour market (Balan, 2014). According to Eurostat statistical data, in the European Union young people represent one-fifth of the total population. Today the young people are facing the impacts of economical crisis and globalisation, population ageing and innovation explosion, which affects employability, education and training systems and social development. Successful youth's integration into the labour market is one of the main factors for future development and their inclusion into society. One of the main indicators for youth's inclusion into society is the development of a knowledge-based economy. It is important to aim at the development of a knowledge-based economy in rural regions because the majority of unemployed persons are concentrated in these regions. The Quintuple Helix Model represents the relationships between universities, firms and governments and, in this case, their influence on youth's integration into the society and labour market in rural regions. The paper presents a brief analysis of youths' unemployment development and their integration into the labour market in Latvia's regions and an analysis of the factors affecting this phenomenon by using the Quintuple Helix Model.