The number of 16- to 24-year-olds not in education, employment, or training rose to 1,012,000, exceeding one million for the first time since 2013. Overall unemployment is at its highest level since the Covid pandemic, with young people facing the greatest impact amid economic uncertainty and tax increases. A government-backed review warns that youth disengagement creates a multibillion-pound financial gap through lost economic contribution and higher benefit costs. The review estimates the cumulative annual cost of almost 1 million NEET young people at £125bn, exceeding annual education spending. It also estimates an average lifetime earnings loss equivalent to £52,000 per year for time out of work or learning between ages 18 and 24, with longer gaps making support harder and more expensive.
"Figures from the Office for National Statistics on Thursday showed a rise in the number of 16- to 24-year-olds in the UK who were not in education, employment or training (Neet) in the three months to March to 1,012,000 breaching the 1m mark for the first time since 2013."
"In a major report published on Thursday, the Milburn review said the lost contribution to the economy and the cost of supporting young people through the benefits system was causing a multibillion-pound financial black hole."
"Sounding the alarm over the long-term damage for young people, the former Labour health secretary's report warned the average lifetime loss in earnings due to a period of being out of work, education or training between the age of 18 to 24 was the equivalent of 52,000 a year."
"In this review we estimate the cumulative annual cost to our country of almost 1m Neet young people at 125bn. That is more than we spend on education each year, the report said. The question is no longer whether t"
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