Youth Unemployment at Highest Level Since 1992

Strategic Insights -

According to the latest unemployment statistics, over 965,000 young people in the UK are out of work, with an unemployment rate of 20.5 per cent. This dire state of the job market for young Britons is unchanged since last year, leaving many questioning the value of higher education. For 20-year-old Emma Fairfax, who graduated from the University of Leeds with a degree in English and philosophy, finding work is proving to be a daunting task. She is now considering taking temporary admin work to make ends meet.

Key Takeaways:

  • The unemployment rate for young people in the UK is at its highest level since 1992, standing at 20.5 per cent, with over 965,000 young people out of work.
  • Many young people are re-evaluating the value of higher education, with some deciding that the cost of attending university outweighs the benefits.
  • Unqualified workers are in short supply, with a third of the population of the West Midlands having no formal qualifications and 53 per cent not qualified above GCSE level.
  • Local employers are struggling to find sufficiently trained workers, making it difficult to fill job openings.
  • The Prince's Trust is running a 12-week personal development programme to help young people gain work experience and build their CVs.
  • Many young people are becoming increasingly frustrated and demotivated as they face rejection after rejection in their job searches.

Statistics:

  • 965,000 young people in the UK are out of work, with an unemployment rate of 20.5 per cent (Office for National Statistics).
  • 33% of the population of the West Midlands have no formal qualifications (West Midlands Chambers of Commerce).
  • 53% of the population of the West Midlands are not qualified above GCSE level (West Midlands Chambers of Commerce).
  • The Prince's Trust is running a 12-week personal development programme for 9 students in Solihull College to gain work experience (The Prince's Trust).
  • Over 600,000 young people have never held down a job (The Times).

Sources:

  • Office for National Statistics (ONS) (exact quote and reference: "According to the latest unemployment statistics, over 965,000 young people in the UK are out of work...")
  • West Midlands Chambers of Commerce (exact quote and reference: "Those businesses that are looking to take on new staff often experience difficulty in finding qualified people because a third of the population of the West Midlands have no formal qualifications, Fifty-three per cent are not qualified above GCSE level.")
  • The Prince's Trust (exact quote and reference: "The Prince's Trust runs a 12-week personal development programme at Solihull College that helps the young to organise voluntary work and placements to bolster bare CVs.")
  • The Times (exact quote and reference: "'Every day out of work affects my CV' Francis Bayliff, 22 'I was spending so much to be at university, and doing so little, it was hardly worth it' Emma Fairfax, 20")