New nightmare for Keir Starmer as young Brits have lost all hope | Politics | News
Record numbers of young people now fear they will face long-term unemployment, as new research reveals how the country’s youth are losing faith in the future. In 2015, only one in 50 people aged 16 to 21 thought they were likely to be long-term unemployed. Today, that figure is around one in 14. Only a quarter now believe everyone has the chance to go as far as their talent and hard work requires.
The Institute for Public Policy Research (IPPR) warns of “financial nihilism,” where young people respond to insecurity by “working less, taking greater financial risks such as investing in cryptocurrency, and abandoning long-term economic planning.” The report warns that four in 10 women and three in 10 men aged 16 to 24 have poor mental health. More than one million people in this age group are neither in education, employment nor training.
The think tank’s Ellie Harris said: “When young people lose faith in their future, it not only affects their well-being, but also risks undermining economic growth, productivity and social cohesion. This is not just a crisis affecting a small minority. Confidence is falling across the UK, across social groups and between genders. The challenge for policymakers is not just to improve outcomes for young people, but to rebuild faith that these outcomes are still achievable.”
Shadow Education Secretary Laura Trott said: “It’s no wonder young people are feeling increasingly hopeless about their future. They are struggling with huge student debts while competing in a terrible job market. Labor’s tax rises and red tape are destroying jobs, pushing youth unemployment to the highest level in more than a decade… We will support businesses to grow and create good jobs. Our New Deal for Young People will break deadlocks and create apprenticeships that give young people real choice.”
A Government spokesman said: “We recognize that too many young people are being left out of opportunity, with the number of those not in employment, education or training rising by 250,000 in the three years to Summer 2024. That’s why we’re bringing forward a £2.5 billion youth employment support package to help almost a million young people earn or learn. We’re also expanding youth centers to every corner of Great Britain to provide vital skills, jobs and housing support for future generations.”
