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The looming recession, young workers and young NEETs

Rates for UK youth unemployment have been falling sharply since the end of the pandemic. At the height of Covid just over 1 in 7 (13.7%) of the 16-24 age group were recorded as jobless. This had fallen to 10.6% for the first quarter of this year. Young people were the group worst affected by … Continue reading The looming recession, young workers and young NEETs

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‘Going solo’ – young people and self employment.

Often encouraged to demonstrate they are part of a new entrepreneurial culture, students and school-leavers invariably see self-employment as a route to both a high income and greater personal freedom. ONS analysis shows one in five (21%) 16- to 21-year-olds say it is likely they will be self-employed at some point in the future. In 1975, … Continue reading ‘Going solo’ – young people and self employment.

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Youth unemployment falls but the NEETs remain.

UK Labour market data released this week, for Nov- Jan 2022, shows UK unemployment estimated at 3.9%, 0.2 percentage points lower than the previous three-month period, and returning to pre-coronavirus pandemic levels. There are now nearly as many vacancies as there are people unemployed (1.34 million).  But the UK economic inactivity rate is estimated at … Continue reading Youth unemployment falls but the NEETs remain.

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UK employers look to hire school leavers as skills shortage bites (?)

An interesting piece in the Financial Times this week,   arguing that employers are planning to recruit more school leavers rather than just rely on graduates. ftDownload Rather than the ‘generic’ skills that graduates have, the FT reports that employers are short of recruits with ‘specific’ skills and can’t rely on the government’s further education reforms to provide … Continue reading UK employers look to hire school leavers as skills shortage bites (?)

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Leaving labour.

The latest ONS labour market data (published at the start of this week) shows unemployment falling to 4.2 per cent.  Redundancies remained below pre-pandemic levels, with just 1.2 unemployed per vacancy. In other words  the  effects on joblessness of ending of the furlough appear  limited. Having said this,the ONS says  it is still possible that people made redundant were … Continue reading Leaving labour.

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The House of Lords and the Young Unemployed.

Their Lordships, even if, as one of the most archaic parts of the British state, many of whom are unlikely to have had any real personal contact with working class young people, have commissioned a two hundred page report on youth joblessness. lords-reportDownload With a committee membership stretching from Lord (Kenneth) Baker, as education minister … Continue reading The House of Lords and the Young Unemployed.

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Jobs, jobs, jobs?

This month’s labour market statistics continue to confound many. It’s clearly a case of ‘jobs, jobs, jobs’ though it’s probably still too early to properly assess the affects of the end of furlough and the number of ‘zombie jobs’ - the statistics cover the three month period before. Nevertheless unemployment is now at 4.3%, falling … Continue reading Jobs, jobs, jobs?

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Youth joblessness falls but uncertainties continue

Yesterday's ONS labour market figures show unemployment down to 4.6%, falling from 5.5% at the height of the pandemic, with over a million vacancies.  Young workers have been the hardest hit with the 16-24 unemployment rate reaching almost 15% by September 2020, but this is now also falling  - down  to 12.9% in the May-July … Continue reading Youth joblessness falls but uncertainties continue

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A Job guarantee scheme not ‘Kickstart’

Faced with the threat of a huge rise in youth unemployment in the final quarter of 2020, Chancellor Sunak set up Kickstart. Providing £2billion funding to create sixth month job placements for 16- to 24-year-olds on Universal Credit who are at risk of long-term unemployment,  Employers of all sizes were encouraged to apply for funding … Continue reading A Job guarantee scheme not ‘Kickstart’

Not a good time to be a NEET.

Published youth unemployment figures are often misleading because they usually include full-time students who are seeking or are in-between temporary jobs  and  also because now, many young workers in sectors shut down by Covid 9, may be furloughed  in ‘zombie jobs’, unlikely to exist when the job protection measures end. But latest statistics for NEETs, (those … Continue reading Not a good time to be a NEET.