The aim of this research study is to perform an analysis of the consequences and impact of the fourth industrial revolution on the development of employability skills and to identify possible solutions to help overcome these challenges. The research methodology applied in this research study involves examining and analysing literature and Internet sources. To identify possible solutions for the development of employability skills in the context of challenges of the fourth industrial revolution, the Analytic Hierarchy Process (AHP) was used. The results of the research indicate that the promotion of youth employability requires close cooperation between educational institutions and entrepreneurs, as well as that significant attention should be paid to investment in human capital and the digital transformation of business. The research expands and provides insights into the situation in Latvia regarding the impact of the fourth industrial revolution on the development of employability skills and performed an analysis of the main possible solutions for the successful development of employability skills in Latvia that can be ensured by investing in human capital and improving the business environment, the digital transformation of SMEs and the modernization of the education system. In this context, it is crucial to promote more collaboration among educators, academics, policymakers, and practitioners.

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-The research deals with the question of how different resources affect the labour market integration of the long-term unemployed youth. The main hypothesis it advances is that the youth who have access to different resources will find more stable jobs or develop their own business after unemployment than those lacking such different kinds of support.In making the education and employment decisions during the transition from school to work, there is strong evidence of the importance for young people to make good initial career decisions and an enduring effect of academic achievement on labour market and education outcomes.This research is based on scientific discussion of different author opinions and survey results of young people as well as on views on the future vision of authors.

Abstract. Unemployment is considered a broad macroeconomic problem that is associated with job absorption, the wasting of human resources, the performance of the labour market, the success of economic policy and even with the risk of inflationary pressures. Unemployment itself has hidden potential and has become a significant and serious social problem of the society (Novak, Darmo, 2015).Young people have been among those most affected by the recent financial crisis. National labour force surveys (Hoffman, 2011) show that since 2008 the youth unemployment rate has risen in all the EU Member States (Hjuza & Borbejs-Pece, 2012). The current economic instability in the context of youth's prospects and opportunities in the labour market is uncertain (Balan, 2014). Youth unemployment has also a negative effect on economic growth and productivity.The aim of the paper is to identify the importance of youth unemployment and draw the society's attention to the consequences. In the paper, the authors provide a better understanding of losses for the country due to unemployed young people by analysing the cost of youth unemployment in the European Union using the gross domestic product (GDP) approach.

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