Youth Unemployment Crisis: Business Leaders Urge Government Action

The number of 16 and 17-year-olds out of work for over a year has almost doubled to over 20,000, while the overall youth unemployment has increased by 19% to 928,000. Business leaders are calling on the government to increase funding for apprenticeships and offer a subsidy for work placements to tackle the "unacceptable level" of youth unemployment.

Key Takeaways:

The number of 16 and 17-year-olds out of work for over a year has almost doubled to over 20,000, according to the Chartered Institute of Personnel and Development (CIPD).
The overall youth unemployment has increased by 19% to 928,000, or 19% of 16 to 24-year-olds, according to the CIPD.
The CBI is calling for the government to fund 50,000 new apprenticeships, with £2,500 subsidy towards the cost of training a youngster.
A separate report by the CIPD recommends a six-month work placement subsidy of £1,250 to offer "vital help" to younger jobseekers.
Public sector organizations were twice as likely as private firms to be offering apprenticeships and internships, according to the CIPD survey.
Lack of experience and the availability of more suitable candidates were the main barriers to recruiting young people, according to the CIPD survey.

Statistics:

The number of 16 and 17-year-olds out of work for over a year has almost doubled to over 20,000.
The overall youth unemployment has increased by 19% to 928,000, or 19% of 16 to 24-year-olds.
Only 15% of organizations questioned by the CIPD said they were taking on apprentices.
8% of organizations questioned by the CIPD said they were hiring interns.
Public sector organizations were twice as likely as private firms to be offering apprenticeships and internships.
Youth unemployment has leaped from 714,000 to 928,000 in the past year.

Sources:

The CBI: "New Apprenticeships and an End to Youth Unemployment"
The Chartered Institute of Personnel and Development (CIPD): "Youth Unemployment Crisis"