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FINANCIAL EDUCATION FOR YOUNG PEOPLEFINANCIAL EDUCATION FOR YOUNG PEOPLE
Speaker:Centre:Date:
V V ConferenceConference ““FinancialFinancial EducationEducation forfor Young Young PeoplePeople””
AimAim ofof thethe conferenceconference,, sponsoredsponsored byby UnicajaUnicaja withinwithin thethe frameworkframework ofof thethe projectproject EdufinetEdufinet::
To bring the economic and financial world closer to youngpeople.
By taking financial education to their own day-to-day lifey g y yand by adapting it to their special priorities and
needs.
V V ConferenceConference ““FinancialFinancial EducationEducation forfor Young Young PeoplePeople””
AimAim ofof thethe conferenceconference,, sponsoredsponsored byby UnicajaUnicaja withinwithin thethe frameworkframework ofof thethe projectproject EdufinetEdufinet::
To bring the economic and financial world closer toyoung peopleyoung people.
By taking financial education to their own day-to-daylife and by adapting it to their special priorities and
needs.
IV IV FinancialFinancial OlympicsOlympics“V “V ConferenceConference FinancialFinancial EducationEducation forfor Young Young PeoplePeople””
++
IV IV FinancialFinancial OlympicsOlympics Rules at Edufinextwebsite
y py p
AimAim: : PracticalPractical use of use of thethe contentscontents of of
website
ParticipantsParticipants:: Students of the centres attending the conference “Financial Education for
Young People”, organized in teams of 2 to 10 members.
HowHow doesdoes itit workwork?? Teams will do a project to explain in an original, educational andcreative way one of the following financial products:
••DepositsDeposits ••PensionPension plansplans••FixedFixed incomeincome productsproducts••VariableVariable incomeincome productsproducts••InvestmentInvestment fundsfunds
••InsurancesInsurances••PersonalPersonal loansloans andand mortgagesmortgages••CardsCards ((debitdebit,, creditcredit,, revolvingrevolving,, prepaymentprepayment oror virtualvirtual cardscards))
IV IV FinancialFinancial OlympicsOlympics
HowHow toto dodo thethe projectproject?? InIn oneone ofof thethe formatsformats acceptedaccepted inin thethe contestcontest::
••ComicComic:: maxmax.. 1010 pagespages ((pdfpdf))••VideoVideo:: maxmax.. 55 minutesminutes..
••Posters/Posters/boardsboards:: maxmax.. 1010 ((pdfpdf))..
••PodcastPodcast:: maxmax..55 minutesminutes ((formatformat mpmp33 oror mpmp44))..
••PowerpointPowerpoint presentationpresentation:: maxmax.. 1010 slidesslides..
••EssayEssay:: maxmax..1010..000000 characterscharacters ((includingincluding spacesspaces))..
ContestContest resultsresults::ContestContest resultsresults::
•• FromFrom 1818//44//1414 toto 55//55//1414:: TheThe TechnicalTechnical CommitteeCommittee willwill choosechoose thethe 1010 toptop projectsprojects
Draw of 1 USA grantbetween the member
of these teams•• FromFrom 2121//1010//1313 toto 77//33//1414:: RegistrationRegistration termterm
1st prize 2nd prize 3rd prize
T h
pp p jp j
•• FromFrom 55//55//1414 toto 1818//55//1414:: AA “popular“popular juryjury”” willwill votevote throughthrough thethe spacespace enabledenabled onon EdufinextEdufinext
Teacher
Students
Classroom
FinancialFinancial EducationEducation ComicComic
INDEXINDEX
Financial EducationFinancial Education
EdufinetEdufinet
Family BudgetFamily Budget
Economic and Financial IndicatorsEconomic and Financial Indicators
Financial System and Main ProductsFinancial System and Main Products
Practical ExercisesPractical Exercises
INDEXINDEX
Financial EducationFinancial Education
EdufinetEdufinet
Family BudgetFamily Budget
Economic and Financial IndicatorsEconomic and Financial Indicators
Financial System and Main ProductsFinancial System and Main Products
Practical ExercisesPractical Exercises
Concept of Concept of FinancialFinancial EducationEducationIt is a process developping in three stages:
1) K l d d d t di f fi1) Knowledge and understanding of finances
Improvement of the knowledge on financial products, concepts and risks.
2) Competences: use of knowledge for one’s own benefit
Development of skills that allow people to be more aware of what theysubscribe
3) Informed choices: financial responsibility
Decision making aimed to improve one’s own financial welfare
TheThe importanceimportance of of FinancialFinancial EducationEducation
Pilot project for Financial Educationin 3rd year of ESO
• 75 countriesld d
• Assessment of knowledge in FE
• 15‐years‐old students
TheThe importanceimportance of of FinancialFinancial EducationEducation
1) Large amount of financial products
2) Complexity of financial products
3) Consumers have a lack of information and advice
Difficulty in making financial decisions
The importance of Financial Education for young people
Financial Education is not “for grown-ups only”
Now we are users of In the future, we will be users of
LoansCards
Loans
Current accounts
DepositsSavings books Cards
Benefits of Financial Education for young people• Understanding the value of money• Planning of budget and savings and investment needs• Training for an independent life• Training for an independent life• Knowledge of financial products and services
INDEXINDEX
Financial EducationFinancial Education
EdufinetEdufinet
Family BudgetFamily Budget
Economic and Financial IndicatorsEconomic and Financial Indicators
Financial System and Main ProductsFinancial System and Main Products
Practical ExercisesPractical Exercises
EdufinetEdufinet ProjectProject
Exercise of CSR
The transfer of knowledgerelated to the financial system
The improvement of th fi i l lit
To contribute to:
related to the financial system the financial literacy
PROMOTION OF:TransparencySecurity
In In thethe financialfinancialrelationshipsrelationships ofof thethe citizenscitizensSecurity
Responsibilityrelationshipsrelationships of of thethe citizenscitizens
AimsAims
Elaboration of a Manual
• Internet • Simple
• Clear
• Financial System
• Financial products
Introductoryvision
• Book • ObjectiveFinancial productsand services
Information for makingpersonal decisions
ToTo increaseincrease financialfinancial servicesservices user’suser’spersonal personal autonomyautonomypp yy
www.edufinet.comwww.edufinet.com
Search engine
Enquiries
SS
NewsGroups
CONTENTS
CONTENTS
Glossary
Simulators
Library
Games
Edufinet’s profilesin Facebook and Subscriptionsin Facebook and Twitter and contact
www.edufinet.com/edufinextwww.edufinet.com/edufinext
Information onfinancial educationconferences Contents
Information onfinancial olympicsy p
Financial educationgamesgames
INDEXINDEX
Financial EducationFinancial Education
EdufinetEdufinet
Family BudgetFamily Budget
Economic and Financial IndicatorsEconomic and Financial Indicators
Financial System and Main ProductsFinancial System and Main Products
Practical ExercisesPractical Exercises
FamilyFamily BudgetBudget
Document containing:
Family Budget Main items in the family budget
Salaries
•Income (I) = EarningsPensionsInvestment yield
L
INCOME(I)
LoansTaxesFamily expensesTelecommunications
= Payments
Related to:• A same period of time• A family unit
TelecommunicationsTransportationHome energyClothing and footwearFood
EXPENSES(E)•Expenses (E)
FoodLeisure
InsurancesPension plans
(I)‐(E) = BUDGETARY BALANCE
If (I)>(E)= SurplusIf (I)=(E)= Balance( ) ( )If (I)<(E)= Deficit
FamilyFamily BudgetBudget: : exampleexample
BudgetBudget 20122012 C/C: accrual BudgetBudget 20132013
20132013INCOME
20122012INCOME
Net salaries 48.500 €Dividends 225 €Deposit interests 15,80 €Tax return (IRPF) 1.500 €
CONet salaries 48.015 €Dividends 225 €Deposit interests 15,80 €Tax return (IRPF) 750 € ( )
Use of current account 1.000 €TOTAL INCOME 51.240,80 €
EXPENSESLoan repayments 18.167 €
Tax return (IRPF) 750 €Use of current account ‐‐‐TOTAL INCOME 49.005,80 €
EXPENSESLoan repayments 18 167 €
C/C: +5.000 €p y
Insurances 1.610 €Taxes (IBI and IVTM) 920 €Pension plan payment 3.000 €Family expenses 35.000 €
Loan repayments 18.167 €Insurances 1.610 €Taxes (IBI and IVTM) 920 €Pension plan payment ‐‐‐F il 23 309 € TOTAL EXPENSES 58.697 €
BALANCE (INCOME‐EXPENSES) ‐7.456 €
Family expenses 23.309 €TOTAL EXPENSES 44.006 €BALANCE (INCOME‐EXPENSES) 5.000 €
2014
INDEXINDEX
Financial EducationFinancial Education
EdufinetEdufinet
Family BudgetFamily Budget
Economic and Financial IndicatorsEconomic and Financial Indicators
Financial System and Main ProductsFinancial System and Main Products
Practical ExercisesPractical Exercises
EconomicEconomic and and FinancialFinancial IndicatorsIndicators
Economic Indicators Financial Indicators
•Gross Domestic Product (GDP) •Profitability
•Inflation
•Labour Market
•Debt level
•Solvency
•Exchange rate
EconomicEconomic IndicatorsIndicators
GDPDefinitionGDP:Value of the productive activity
In a given period of time
I t hiIn a country or geographic zone
Residents (nationals and foreigners).
Data
•Quarter‐on‐quarter variation rate: variation (in %) in a quarter compared to the previous one.•Year‐on‐year variation rate: variation (in %) in a year compared to the previous one.Calculation of GDP
P d t ( t ) i i d d i k dProduct (sectors): primary sector + industry and energy + construction + market and non market services + others
Income: Salaries + Gross Operationg Surplus + Taxes
Expenditure: Consumption + Investment + Changes in stock + Exports - Imports
EconomicEconomic IndicatorsIndicatorsInflation
Definition
•Persistent increase in the general price le el of an•Persistent increase in the general price level of aneconomy.•Several inflation indicators, the CPICPI being the mostused.
Example of calculation of CPI*
Amounts acquired in the base yearPrice (base year) Price
Per item Total Per item Total150 loaves of bread 1,50 € 225 € 1,30 € 195 €100 cups of coffee 2,40 € 240 € 2,40 € 240 €12 hair cuts 20,00 € 240 € 22,00 € 264 €1 coat 145,00 € 145 € 176,00 € 176 €Total cost of basket ‐‐‐ 850 € ‐‐‐ 875 €Price index ‐‐‐ 100 ‐‐‐ 102,9Inflation rate ‐‐‐ ‐‐‐ ‐‐‐ 2,90%Inflation rate 2,90%*Source: European Central Bank
EconomicEconomic IndicatorsIndicatorsLabour Market
TOTAL POPULATION
WORKING‐AGE POPULATION
NON WORKING‐AGE POPULATIONS (<16
YEARS OLD)
LABOUR FORCE
POPULATION NOT IN THE
LABOUR FORCE
EMPLOYED UNEMPLOYEDEMPLOYED POPULATION
UNEMPLOYED PEOPLE
EMPLOYEESSEEKING THEIR
FIRST JOB
RETIRED PEOPLE
STUDENTS
SELF‐EMPLOYED
FIRST JOB
HAVE WORKED BEFORE
OTHER GROUPS
EconomicEconomic IndicatorsIndicators
Exchange rateDefinition
Exchange rate:Exchange rate:The exchange rate is the price of a currency interms of another currency.
Example
A good has a price of 300 dollars in the USA and of310 euros in Spain The exchange rate euro/dollar310 euros in Spain. The exchange rate euro/dollaris 1.35. How much does the USA good cost ineuros?
Cost of the good in the USA =300 $1,35 $/€
= 222 €
FinancialFinancial IndicatorsIndicators
Balance (2012)Balance (2012) ProfitProfit and and LossLoss ((2012) 2012)
Sales 15.946,14 13.945,05Cost of goods (6 416 83) (5 600 34)Cost of goods (6.416,83) (5.600,34)GROSS MARGIN 9.529,32 8.344,71Operating costs (5.604,78) (5.026,61)Other net profits and losses (11,578) (379,11)
Current assets 6.692 4.298Non current assets 6.198 2.648TOTAL ASSETS 12.890 6.946C li bili i 3 485 1 617 OPERATIVE RESULT (EBITDA) 3.912,96 2.938,99
Depreciation and Amortisation (796,11) (427,71)EBIT (Earnings before interest and t ) 3 116 84 2 511 28
Current liabilities 3.485 1.617Non currentliabilities 923 269EQUITY 8.482 5.060 tax) 3.116,84 2.511,28
Financial results 14,13 61,30RESULTS BEFORE TAX 3.130,97 2.572,58Tax on earnings (763,96) (625,46)
EQUITY 8.482 5.060TOTAL LIABILITIES + EQUITY 12.890 6.946*Figures in million euros Tax on earnings (763,96) (625,46)
NET RESULT OF THE YEAR 2.367,01 1.947,12*Figures in million eurosSource: annual report Inditex and H&M, 2012
Source: annual report Inditex and H&M, 2012
FinancialFinancial IndicatorsIndicators
WhichWhich oneone isis thethe mostmost profitableprofitable??
ROA Net profit / Total assets 18,36% 28,03%
ROE Net profit / Total equity 27,91% 38,48%
WhichWhich oneone isis moremore indebtedindebted??WhichWhich oneone isis more more indebtedindebted??
Leverage Liabilities / Total Assets 34,20% 27,15%
WhichWhich oneone isis thethe mostmost solvablesolvable??
Solvency Net equity / Total assets 65,80% 72,85%
INDEXINDEX
Financial EducationFinancial Education
EdufinetEdufinet
Family BudgetFamily Budget
Economic and Financial IndicatorsEconomic and Financial Indicators
Financial System and Main ProductsFinancial System and Main Products
Practical ExercisesPractical Exercises
Role of Role of thethe financialfinancial systemsystem
DIFFERENCESDIFFERENCES
-Term-Amount-Risk
BORROWERS OFPROVIDERS OF FINANCIAL BORROWERS OF FINANCIAL RESOURCES
PROVIDERS OF FINANCIAL RESOURCES
FINANCIAL SYSTEM
ASYMMETRICALASYMMETRICAL INFORMATION
Role of Role of thethe financialfinancial systemsystem
DecisionDecision MakingMaking
WhatWhat isis thethe needneed toto covercover??
Obtain savings Obtain credit Risk coverage Other financialservices
Savingsproducts
Loans Insurances Payments/Guarantees/Othersproducts Guarantees/Others
‐Profitability
‐Risk‐Interest rate
‐Fees and commissions
‐Premiums
‐Coverages
‐Service/costratio
‐Liquidity ‐Term
TaxationTaxation
Variables Variables toto considerconsider in in savingssavings productsproducts
PROFITABILITYPROFITABILITY
What is the yield obtained by the invested capital?
TERMTERM
For what period?
RISKRISK
What are the risks?
LIQUIDITYLIQUIDITY
What are the risks?•Solvency of the institution receiving our money
•Invested capital
•Interest to be received•Interest to be received
Can I use the invested money at any time?
MainMain featuresfeatures of of DepositsDeposits
CurrentCurrent Bank statement
•Service fees
•Money + - DepositDepositat at sightsight SavingsSavings
accountaccount
accountaccount Cheque book
Savings book
No cheque book
Maintenancefee
Managementfee
DepositorDepositor CustodianCustodian(Deposit institution) Li
quity
rofit
abili
ty
•Funds custody
Pr
FixedFixed--termterm
d itd it
Earlycancellation
i i•Funds custody•Movement statements•Interest•Services•Funds availability
- + depositdeposit(IPF)(IPF)
commission
Concept of LoanConcept of Loan
LOAN CYCLE
Loan amount
Term
Potential tax benefits
Total redemption of thecapitalInitial capital
commissionsTaxes and arrangement fees
Repayment installments = Capital + interest
Operation setting
TipsTips toto considerconsider whenwhen applyingapplying forfor a loana loan
What do we want to finance with that loan?
LOAN WITH PERSONAL GUARANTEE
MORTGAGE LOANWhat do I have toconsider?
Usually fixed interest rate Personal rate > mortgage
AmountUsually < 60.000€ Not > 80% of the property value
Usually, variable interest rateI d d
Interest rate
Usually, fixed interest rate • Index used• Differential• Review date
Commissions and fees(Taxes)
Opening, study, cancellation commissions
Opening and cancellation commission, notary, valuation, …
APR Real cost of the operation
TermShort and medium term(≤ 10 years)
Long term(> 20 years)
APR Real cost of the operation
( y ) ( y )
MeansMeans of of paymentpayment
Concept
Payment instrument replacing coins and notes: cards, transfers, commercialdocuments (bill of exchange, cheque, drafts).
Usual mean of payment: cards
DebitDebit Direct debit to the account.DebitDebit
CreditCredit
Direct debit to the account.
Credit approved to be used.
CardsCards PrepaymentPrepayment Use limited to the preloaded amount.
VirtualVirtual Request for a virtual card for each online purchase.
MeansMeans of of paymentpaymentFRONTFRONT
Issuer institution’s logo Nationalnetwork
•Euro 6000•4B
Security chip
network
1234 5678 9012 3456
•Servired
PAN 16 digits (unique)
Validity date•Visa•Mastercard
1234 5678 9012 3456
Name of the card holder
Month/YearInternational brand
PAN 16 digits (unique)
BACK Name of the card holderBACK
Magnetic band
Signature CVV Code for e‐commerceoperations (3 digits)
Contact details of the issuer institution
INDEXINDEX
Financial EducationFinancial Education
EdufinetEdufinet
Family BudgetFamily Budget
Economic and Financial IndicatorsEconomic and Financial Indicators
Financial System and Main ProductsFinancial System and Main Products
Practical ExercisesPractical Exercises
ExerciseExercise 11
1.1. AA termterm depositdeposit forfor 11 yearyear,, forfor 1010..000000 €€ receivesreceives anan interestinterest ofof 33..5050%%,, withwith monthlymonthlyinterestinterest paymentpayment.. WhatWhat isis thethe amountamount ofof interestinterest toto receivereceive eacheach monthmonth??
8787 5050 €€a.a. 8787,,5050 €€..b.b. 350350 €€..c.c. 2929,,1717€€..dd 175175 €€d.d. 175175 €€..
ExerciseExercise 11
C*R*T360 =
10.000*3,5%*30360
ExerciseExercise 11
1.1. AA termterm depositdeposit forfor 11 yearyear,, forfor 1010..000000 €€ receivesreceives anan interestinterest ofof 33..5050%%,, withwith monthlymonthlyinterestinterest paymentpayment.. WhatWhat isis thethe amountamount ofof interestinterest toto receivereceive eacheach monthmonth??
a.a. 8787,,5050 €€..b.b. 350350 €€..cc 2929 1717 €€c.c. 2929,,1717 €€..d.d. 175175 €€..
ExerciseExercise 22
2.2. AA currentcurrent accountaccount isis heldheld byby 33 holdersholders withwith individualindividual signaturesignature.. ToTo useuse thethe accountaccount::
ThTh i ti t ff thth thth h ldh ld ii i di da.a. TheThe signaturesignature ofof thethe threethree holdersholders isis requiredrequired..b.b. TheThe threethree holdersholders mustmust actact jointlyjointlyc.c. TheThe signaturesignature ofof anyany ofof thethe threethree holdersholders isis enoughenough..dd TheThe signaturesignature ofof atat leastleast twotwo ofof thethe threethree holdersholders isis requiredrequiredd.d. TheThe signaturesignature ofof atat leastleast twotwo ofof thethe threethree holdersholders isis requiredrequired..
ExerciseExercise 22
ExerciseExercise 22
2.2. AA currentcurrent accountaccount isis heldheld byby 33 holdersholders withwith individualindividual signaturesignature.. ToTo useuse thethe accountaccount::
ThTh i ti t ff thth thth h ldh ld ii i di da.a. TheThe signaturesignature ofof thethe threethree holdersholders isis requiredrequired..b.b. TheThe threethree holdersholders mustmust actact jointlyjointlyc.c. TheThe signaturesignature ofof anyany ofof thethe threethree holdersholders isis enoughenough..dd TheThe signaturesignature ofof atat leastleast twotwo ofof thethe threethree holdersholders isis requiredrequiredd.d. TheThe signaturesignature ofof atat leastleast twotwo ofof thethe threethree holdersholders isis requiredrequired..
ExerciseExercise 33
33.. AA personperson getsgets aa mortgagemortgage loanloan forfor 300300..000000 €€,, withwith anan interestinterest raterate ofof 44..55%%,, toto beberepaidrepaid inin 2525 yearsyears withwith monthlymonthly constantconstant repaymentsrepayments ((alwaysalways thethe samesame amountamount)).. TheThe
thlthl tt tt bb idid illill bbmonthlymonthly repaymentrepayment toto bebe paidpaid willwill bebe::
a.a. 11..667667,,5050 €€..bb 11 125125 0000 €€b.b. 11..125125,,0000 €€..c.c. 11..725725,,3030 €€..d.d. 11..532532,,2020 €€..
ExerciseExercise 33
*1‐ 1+
4,5%12
( )‐(25*12)300.000= a * 12
4,5%12
ExerciseExercise 33
ExerciseExercise 33
1800
Loan Loan repaymentrepayment tabletable
1400
1600
1000
1200
600
800
200
400
0
1 21 41 61 81 101 121 141 161 181 201 221 241 261 281 301
InterestInterest RedeemedRedeemed capitalcapitalpp
ExerciseExercise 33
33.. AA personperson getsgets aa mortgagemortgage loanloan forfor 300300..000000 €€,, withwith anan interestinterest raterate ofof 44..55%%,, toto beberepaidrepaid inin 2525 yearsyears withwith monthlymonthly constantconstant repaymentsrepayments ((alwaysalways thethe samesame amountamount)).. TheThe
thlthl tt tt bb idid illill bbmonthlymonthly repaymentrepayment toto bebe paidpaid willwill bebe::
a.a. 11..667667,,5050 €€..bb 11 125125 0000 €€b.b. 11..125125,,0000 €€..c.c. 11..725725,,3030 €€..d.d. 11..532532,,2020 €€..
ExerciseExercise 44
4 Whi h f th f ll i t b t th f tb ll l b i i ht4. Which one of the following sentences about these football clubs is right,according to the details below?
R l M d id Cl b d Fú b l Fú b l Cl b B lReal Madrid Club de Fútbol Fútbol Club BarcelonaROA 4,32% 6,46%Leverage 63,41% 97,53%Solvency 36 58% 2 47%
a.a. BarcelonaBarcelona hashas aa betterbetter positionposition inin thethe threethree presentedpresented indicatorsindicators..bb RealReal MadridMadrid isis thethe mostmost indebtedindebted
Solvency 36,58% 2,47%
b.b. RealReal MadridMadrid isis thethe mostmost indebtedindebted..c.c. BarcelonaBarcelona isis thethe mostmost profitableprofitable..d.d. RealReal MadridMadrid isis thethe lessless solventsolvent..
ExerciseExercise 44
4 Whi h f th f ll i t b t th f tb ll l b i i ht4. Which one of the following sentences about these football clubs is right,according to the details below?
R l M d id Cl b d Fú b l Fú b l Cl b B lReal Madrid Club de Fútbol Fútbol Club BarcelonaROA 4,32% 6,46%Leverage 63,41% 97,53%Solvency 36 58% 2 47%
aa BarcelonaBarcelona hashas aa betterbetter positionposition inin thethe threethree presentedpresented indicatorsindicators
Solvency 36,58% 2,47%
a.a. BarcelonaBarcelona hashas aa betterbetter positionposition inin thethe threethree presentedpresented indicatorsindicators..b.b. RealReal MadridMadrid isis thethe mostmost indebtedindebted..c.c. BarcelonaBarcelona isis thethe mostmost profitableprofitable..d.d. RealReal MadridMadrid isis thethe lessless solventsolvent..d.d. RealReal MadridMadrid isis thethe lessless solventsolvent..
ExerciseExercise 55
5. What is the unemployment rate according to the information below?Thousand people
Total population 8.421,0Working‐age population 6.799,0
Labour force 4.025,0Population not in the labour force 2.774,0
Unemployed people 1.440,4
a. Population not in the labour force/ Working‐age population: 40,8%.
Source: EPA 2º Quarter 2013
Total population source: local register 2013
a. Population not in the labour force/ Working age population: 40,8%.b. Unemployed people / Working‐age population: 21,19%.c. Unemployed people / Labour force: 35,79%.d. Population not in the labour force / Total population: 32,94%.p / p p ,
ExerciseExercise 55
5. What is the unemployment rate according to the information below?Thousand people
Total population 8.421,0Working‐age population 6.799,0
Labour force 4.025,0Population not in the labour force 2.774,0
Unemployed people 1.440,4Source: EPA 2º Quarter 2013
Total population source: local register 2013
a. Population not in the labour force/ Working‐age population: 40,8%.b. Unemployed people / Working‐age population: 21,19%.c. Unemployed people / Labour force: 35,79%.p y p p / ,d. Population not in the labour force / Total population: 32,94%.
FINANCIAL EDUCATION FOR YOUNG PEOPLEFINANCIAL EDUCATION FOR YOUNG PEOPLE
Speaker:Centre:Date:
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