youthunemployment News & Analysis
2 articles
Market Mood
1 in 6 Young People Not in Work by 2031, Report Warns
A major review indicates that one in six young people in the UK may not be in education, employment, or training (Neet) within five years without intervention. The unemployment rate for 16 to 24-year-olds is currently 16.2%, the highest since 2014 and over three times the overall unemployment rate of 5%. The report predicts 1.25 million young individuals will be Neet by 2031, compared to 957,000 recorded in late 2025. Government officials acknowledge the need for urgent action and increased support for young people seeking employment.
Read More
Next (NXT) Sees Job Applicant Surge Amid Youth Unemployment Crisis
Lord Wolfson, CEO of Next (NXT), stated that the number of applicants per job for shop positions has risen from 10 to 19 over the past two years, indicating a crisis in youth unemployment. The unemployment rate for 16 to 24-year-olds is currently 16.2%, more than three times the overall rate of 5%. Wolfson mentioned that a ban on zero-hours contracts and rising National Insurance costs could hinder job creation. Additionally, Next has reported a £70 million annual increase in its wage bill attributed to government policies while noting a thriving online business.
Read More