Purpose: The paper seeks to disclose the features and implications of the neoliberal VET and employment policy agendas for the social and institutional VET ecosystems and the integration of at-risk youth in the labour market in the Baltic countries. Design/methodology/approach: The research is based on the comparative policy analysis approach with reference to the theories of social and skill formation ecosystems and the historical institutionalism perspective. Findings: The research has revealed three interconnected and alternately/simultaneously applied development pathways in the skill formation and vocational education of at-risk youth in the Baltic countries: (1) the market-oriented approach based on fostering immediate employability based on the momentary skills needs in the economy; (2) the state-assistance approach based on ensuring equal access to the VET and employment services by the state; and (3) the approach of systemic support to socially disadvantaged or at-risk young people in developing their capabilities. Originality/value: The originality of the paper lies in a new, holistic and comparative perspective in analysing the implications of the "Baltic neoliberalism" for the development of skill formation systems, VET and employment of at-risk youth in this region.