We cannot close the demographic gap retroactively, but we certainly can close the skills gap — through education. Clearly, education is the key to youth employment, and this is where both government and industry must take action to engage and inspire young people.

For young people to have meaningful work, they need education, skills, and opportunity. They have to be ready to join the labor force, and there must be jobs for them to take.

As young people who've suffered directly from long-term unemployment, we're sure of one thing: youth joblessness is a massive challenge—but one that can be overcome through innovation.

Youth joblessness around the globe is reaching crisis proportions, leaving as many as 100 million young people unable to find a job or lead productive and purposeful lives. The rise in youth unemployment also robs communities and countries of an historic opportunity to boost economic growth and prosperity.

At the global level, the youth unemployment rate in 2009 was 2.7 times higher than the adult unemployment rate. In four of nine regions the ratio went beyond 3. Why are youth unemployment rates so much higher than adult rates?

Youth unemployment represents one of the most significant barriers to economic and social development throughout the world, John Studzinski is Senior Managing Director and Head of Financial Advisory at Blackstone says in this guest blog for CNBC.