Published: 30th Mar 2021

Young people will increasingly bear the brunt of the unemployment crisis, at a growing cost to the UK economy, according to a new report. The report by the Prince’s Trust and the Learning and Work Institute warns youth unemployment will remain high and will cost the economy, in terms of lost national output, around £6.9bn in 2022. It argues the outlook for young people’s employment is worse compared to the outlook for older workers. In addition to being over-represented in the sectors hit hardest by the pandemic to date, young people tend to be over-represented in the sectors that are forecast to see lower employment in the long term and under-represented in occupations which are likely to see the strongest job growth. The report finds disparities in the impact of the crisis on different groups of young people, raising concerns that the pandemic has, and will continue to, exacerbate pre-existing inequalities. Analysis shows … (To read the full article, subscribe below)