The rise in youth unemployment is a significant problem for the UK
The term ‘youth unemployment’ covers those aged 15-24, and it is normally regarded as a rather important issue for many governments. All those aged 25 or above are considered adult in this case. 2009 was a difficult year, especially for the classes of 2009, because after leaving school or university, they all want to kick start their careers. But instead they have had a difficult time searching for jobs which they can apply their degree to. Graduates haven’t had an easy ride recently because some companies have closed graduate schemes, and are looking to employ more experienced workers, therefore lowering any potential risk in their business.
Many graduates are realising that today, a degree isn’t going to guarantee success in the job market, especially those who are looking to take a place in a competitive industry, such as journalism. Also, the decline in the manufacturing industry has had an impact on youth unemployment, more those without degrees (or low skills) . because jobs are difficult to get for most young people, many have to resort to having low-paid, low skilled jobs. A study in 2008 confirmed that 12% of 18-24 year olds only had temporary jobs, and 40% of them failed to find permanent work.
Also, to make younger workers redundant is much cheaper than someone older because if they have not been in post for 2 years, they do not qualify for redundancy pay. It was found that unemployment rates since the recession started have been higher for young people than other age groups. In 2009 figures were announced that 18% of 18-24 year olds were unemployed and 32. 4% of 16-17 year olds were unemployed. Worryingly high figures for young people. The same figures show that 22. 4% of 18-24 year olds who were unemployed, had been out of work for at least 12 months.
To try and fight against youth unemployment, the chancellor Alistair Darling has said that getting younger people into work is one fo the primary objectives for the government. He has described his plan as “preventing a new generation of young people becoming a lost generation” So the government has set up a series of policies to try and reduce youth unemployment. Firstly, job guarantee. From Jan 2010, under 25’s who have been out of work for 10 months or more will be guaranteed a job or training place. The funding for this policy will come via the Future Jobs Fund.
The aim is too pay for 6 months of wages out of public funds. It isn’t clear how successful this policy will be in generating jobs, and keeping the younger people in work. The government also said it would fund 35,000 apprentices over the coming year and 21,000 will be occupied by the public sector. Finally the government has promised to supply education for all 16 and 17 year olds. To ensure this they will input a total of i?? 550 million across 2 years. Some argue that education may need to be required for those above the age of 17, so the government may expand further education in universities across the UK.