The taskforce, which is led by economic development company Coventry, Solihull and Warwickshire Partnership, met for the first time last week.
It will meet again tomorrow (27 April) to discuss an action plan.
Connexions Coventry and Warwickshire said it will provide support over the next year.
Executive director Steve Stewart, who is also head of company operations for the partnership, said: "There could be a lot of 19- and 20-year-olds who thought they had stable employment, but suddenly find they haven't. Their first reaction is: 'I've got to get a job fast'. But after they've had advice, many see this as an opportunity."
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