Our brave new world is characterized by persistent unemployment at 10%+ in both Europe and US if you count those who have stopped looking because THERE IS NOTHING OUT THERE. Pushing jobs offshore is a huge reason. No one is suggesting
how to employ tens of millions of people who have have no opportunity. Retraining them to work in IT is absurd.

I would reduce unemployment by increasing employment...how?By establishing,with apt funds, copious production firms and industries,mostly in the labour market. That way,the demand for workforce(human) would increase,leading to a decline in joblessness in the working class.

To reduce unemployment I would reform the education system. I would spread the idea of practical education more than just theoretical education. As the more skilled the man power is the more it will have chances of employment. And also the increasing the micro financing so the workers can use their entrepreneur skills effectively.