One of the biggest alterations to the lives of young people in Britain has been the rise in the level of students going to university. This provides Britain with an even more skillful workforce, with intellectual bright sparks ready to achieve bigger and better things. However, the startling news is, actually, it is people under the age of 25 within society who are hit the hardest by unemployment.
Even before the economic slowdown, the number of 16 to 24 year olds unemployed has been rising continuously without interruption. Why are such young people of a fit working age finding it so difficult?
Rather than assuming this is an outcome of the recent recession, maybe youth unemployment needs to be considered as more of a long run trend. In October 2011 the Office for National Statistics estimated the unemployment total for this age range at 991,000. These figures go on to confirm that more than a third of unemployed people in the UK are under the age of 25. Latest figures released November’s show that jobless 16 to 24-year-olds total around 1.02 million.
This is a problem which needs to be addressed by the government. Many economists support the view that countries investing in a skilful workforce are likely to be the ones who prosper. For example, it has been predicted that China will be producing more graduates than Europe and USA combined by 2020. Competition will be fierce for jobs as employers seek out the best candidates.
Almost 28 percent of graduates who left university in 2007 were still not in full-time work three and a half years later according to Higher Education Statistics Agency. However, since the recession, graduate employment has seen a slight lift in 2010. The percentage of University of Manchester alumni obtaining graduate-level jobs is above average at 71.7 percent
It is evident that a degree will put graduates in a better position to succeed and become more employable both in the long and short term. Robust graduates with a strong skill-set and a degree under their belt were well equipped enough to make it through. Yet with a lack of government support the jobs market doesn’t seem to be getting much easier whether you’re a graduate or not.
