EconomyEurope

UK faces worst youth joblessness crisis in decades

341254_jobsBritain is in the midst of the worst youth joblessness crisis in decades with almost one million people or 21 percent of the country’s youth out of work, according to government’s figures.

The number of those young people classified as NEETs (not in education, employment, or training) has reached the 650,000 mark or nine percent of the total, while the number of under-25s in work dropped to 49.9 percent in recent months. This is the lowest figure since records began in 1992.

The number of long-term unemployment is also on the rise with the number of workers aged 18 to 24 and out of work for over two years trebled since the start of the recession to 115,000, which marks the highest figure since July 1994.

According to the Princes’ Trust charity, the number of long-term unemployed youth seeking their help has increased by at least a third since 2010.

Meanwhile, the Institute for Public Policy Research said in a study that the unemployment rate for under-25s is 3.7 times higher than for adults.

Long-term youth unemployment doubles the threat of life-long social scarring, with disadvantaged youth facing a future of insecure, low-wage work or NEET status.

A recent study carried out by the World Health Organisation shows how joblessness undermines young people’s physical health, aside from poverty, homelessness and mental illness.

Leading researcher Michael Marmot warns “persistent high levels of youth unemployment are a public health time bomb waiting to explode.”

This is while the austerity policy adopted by the Conservative-Liberal Democrat coalition government has sparked shedding jobs at record levels by the public sector, which is the biggest graduate employer.

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