"On Monday, Reeves pledged a large investment in the next generation, announcing a "youth guarantee" that promises work, college placement (or a trade apprenticeship) to "every young person." Reeve's words come as the UK struggles with high youth unemployment for those ages 16 to 24. "I commit this Labor government to nothing less than the abolition of long-term youth unemployment," Reeves said at the Labour Party rally."
"As of September, the country's youth unemployment rate stands at 13.8%-almost three times the overall unemployment rate and more than a 6% increase from a historic low unemployment level of 7.6% for this age group in 2022. Reeves became chancellor in July 2024 after being appointed to the role by Prime Minister Keir Starmer following Labour Party's landslide general election victory."
A government youth guarantee promises work, college placement or a trade apprenticeship to every young person, plus one-on-one support and a paid placement, education, or training for those unemployed more than 18 months. Youth unemployment rose to 13.8% in September, nearly three times the overall rate and up from 7.6% in 2022. Contributing factors include Covid-19 education disruption, lack of work experience and skills, and cost-of-living pressures. The guarantee is funded through a spending review that sets over 2 trillion pounds for departmental budgets from 2026 to 2029 with capital investment commitments through 2030.
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