UK Faces Youth Employment Crisis Amid Rising Worklessness, Losing Ground to Global Peers
Britain's struggle with youth unemployment has taken another alarming turn. Research by the accountancy firm PwC has revealed that the UK is slipping down the global league table for youth employment, with a decade-low youth jobs rate and rising worklessness putting an entire generation at risk.
The UK's economy is estimated to be missing out on £26 billion annually due to sharp regional divisions in youth joblessness. This is despite the fact that other advanced economies are making progress in addressing this issue. Out of 38 Organisation for Economic Co-operation and Development (OECD) countries, Britain has dropped four places from last year to number 27, losing ground to countries like Mexico, France, and Estonia.
Ministers are growing increasingly concerned over the youth jobs market, with the number of 16- to 24-year-olds who are not in education, employment or training (Neet) reaching almost a million. Labour has pledged to tackle this crisis through a "youth guarantee" - a six-month paid work placement for eligible 18- to 21-year-olds on universal credit.
However, the government's measures have been met with skepticism from business leaders, who argue that tax rises and higher minimum wages are driving up the cost of hiring young people. This is exacerbating the issue, with long-term youth joblessness at a decade-high level.
Experts warn that if left unchecked, this crisis could have far-reaching consequences for Britain's economy and productivity. The Bank of England governor has stated her concerns about the outlook, highlighting striking data on what's happening to young people in the UK.
PwC's report highlights that reversing this trend could boost the economy by £26 billion, with regions narrowing their gap with Northern Ireland - where youth joblessness is at its lowest level. London and Scotland have the most to gain, with large numbers of young people classified as Neet.
The government has been urged to take a serious gear-change to address this crisis, which is putting an entire generation's future at risk.
Britain's struggle with youth unemployment has taken another alarming turn. Research by the accountancy firm PwC has revealed that the UK is slipping down the global league table for youth employment, with a decade-low youth jobs rate and rising worklessness putting an entire generation at risk.
The UK's economy is estimated to be missing out on £26 billion annually due to sharp regional divisions in youth joblessness. This is despite the fact that other advanced economies are making progress in addressing this issue. Out of 38 Organisation for Economic Co-operation and Development (OECD) countries, Britain has dropped four places from last year to number 27, losing ground to countries like Mexico, France, and Estonia.
Ministers are growing increasingly concerned over the youth jobs market, with the number of 16- to 24-year-olds who are not in education, employment or training (Neet) reaching almost a million. Labour has pledged to tackle this crisis through a "youth guarantee" - a six-month paid work placement for eligible 18- to 21-year-olds on universal credit.
However, the government's measures have been met with skepticism from business leaders, who argue that tax rises and higher minimum wages are driving up the cost of hiring young people. This is exacerbating the issue, with long-term youth joblessness at a decade-high level.
Experts warn that if left unchecked, this crisis could have far-reaching consequences for Britain's economy and productivity. The Bank of England governor has stated her concerns about the outlook, highlighting striking data on what's happening to young people in the UK.
PwC's report highlights that reversing this trend could boost the economy by £26 billion, with regions narrowing their gap with Northern Ireland - where youth joblessness is at its lowest level. London and Scotland have the most to gain, with large numbers of young people classified as Neet.
The government has been urged to take a serious gear-change to address this crisis, which is putting an entire generation's future at risk.
, i mean britain is already struggling to compete globally and now they're losing ground on youth employment too? it's not just the £26 billion loss that's concerning, but what's gonna happen to all these young people who are stuck in a cycle of nothingness? 
they need some serious support or else we're gonna be facing a whole generation of unproductive citizens 
, and business leaders aren't exactly being super helpful either 
it's all about finding that middle ground 
, you know? we need to find ways to get more young people into work without breaking the bank 
or pricing them out of the market 
, 'cause if they don't, it's gonna be a disaster 
... I mean, it's like they're losing ground to other developed countries? Mexico and France are doing better than us? That's just not right 
. It's not just about the £26 billion loss, it's about a whole generation of young people being stuck. A six-month paid work placement sounds good on paper 
, but what if they can't find a job after that? What if they're still struggling? The government needs to take this seriously and come up with more concrete plans 
. It's not just about throwing some cash at the problem, it's about creating real change 
. I feel so bad for those young people who are not in education, employment or training (Neet) - almost a million! 
The Bank of England governor is right, if left unchecked, this could have serious consequences for the economy and productivity... let's hope the gov changes gear soon! 
The more I think about it, the more I wonder if our society's approach to youth employment is just a symptom of a larger issue... We're so focused on providing temporary fixes and Band-Aid solutions that we're neglecting the root causes. Is it really that hard to provide young people with meaningful work opportunities and a sense of purpose? 
. It's like they're just throwing them out into the world with no safety net 
. And don't even get me started on the government's measures - tax rises and higher minimum wages? That's just going to push more kids onto the streets 
. We need a real solution, not just empty promises 
. We can't afford to lose another generation 
.
I'm seriously worried about the youth employment crisis in the UK right now! 
. With the country slipping down the global league table for youth employment and rising worklessness, it's clear that something needs to change ASAP 
. It's like they're trying to kick the can down the road and hope someone else solves the problem 
. It's time to put aside politics and work together to address this crisis and give our young people a fighting chance 
.
It feels like everyone's just trying to score points with each other, rather than actually doing something about the problem. 
It's crazy that £26 billion is being lost every year due to this problem 
But the government's measures are kinda baffling, like, why are they making things harder for young people instead of easier 
.
. It's not just about the government, though - I think it's also about individual actions and choices that can make a difference 
. We need more people who care about this issue and are willing to get involved 
.
. We can't just sit back and hope things get better on their own - we need to take action and make some real changes 
and it's not just about the economy, it's about the people's lives 
have you seen those numbers of 16- to 24-year-olds who aren't in education, employment or training? almost a million?! that's crazy! 
we need some serious action from the government ASAP 
. Like, what r we gonna do w/ a generation of unemployed youth?