"Raising the cost of employment through higher National Insurance contributions and minimum wage increases was always going to hit young people hardest,"
"The irony is stark,"
"Youth unemployment climbs to a decade high, and months later schemes are introduced to bring them back into work. Public funds are then used to fix problems that industry clearly predicted."
"Policy must be judged not just by inflation numbers but by whether it creates sustainable employment. The data this week should prompt serious reflection - if we are serious about growth, confidence, and youth opportunity, industry insight must guide the decisions ahead."
Youth unemployment in the UK has risen to 16.1%, the highest level since 2014, while inflation has dropped to 3%. Measures that increased the cost of employment, including higher National Insurance contributions and minimum wage increases, have disproportionately affected young people and entry-level roles. Overall unemployment stands at 5.2%, signalling a cooling labour market even as entry-level jobs suffer. Months after youth unemployment climbed, schemes were introduced using public funds to return people to work. UK youth unemployment now exceeds the EU average, raising concerns for long-term growth. Industry leaders call for wage and tax alignment with economic reality to protect jobs.
Read at London Business News | Londonlovesbusiness.com
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