YOUNG UNEMPLOYMENT IN THE UK
Youth unemployment, if ignored, has the ability to have far-reaching social consequences. Unemployment among young people can cause social marginalization and instability.
In the United Kingdom, the rate of unemployment among young people is generally described as individuals aged 16 to 24. In May-July 2021, there were around 525,000 young individuals who were unemployed. The number of unemployment decreased by 10,000 from the prior quarter and 47,000 from the previous year. When compared with the historical standards, the rate of unemployment for young people is quite low.
However, for employment, it grew by 118,000 from the previous quarter but decreased by 33,000 from the year before. And, the young people who are inactive reduced to 40.1% in May-July 2021 from 41.8% in the quarter before. 80% of economically inactive young people are enrolled in full-time school.
It's worth mentioning, for perspective, that the overall population of those aged 16 to 24 has been dropping in recent times, falling by 62,000 from May to July 2021.
Impact of Pandemic
After the first month of the pandemic, the rate of employment for young people aged from 16 to 24 dropped significantly, followed by an increase in the unemployment rate. Despite the fact that unemployment has subsequently reverted to pre-pandemic levels, the number of young people employed has remained low.
When comparing the data from May-July 2021, to the pre-pandemic quarter, January-March 2020, the following conclusions can be drawn:
Unemployment among young people has leveled down, returning to pre-pandemic levels. It surged by 14% from pre-pandemic levels in July-September 2020, although unemployment rates for young people have been progressively declining since then.
The number of employed young people has decreased by 243,000. Males have seen a greater drop in employment than women, with men losing 8% of their jobs and women losing 5%.
The rate of unemployment has risen from 12.3% to 12.9%. In July-September2020, this figure climbed to 14.8%.
A total of 162,000 additional young people are now economically inactive.
From March to May 2020, when the epidemic first broke out, the number of persons aged 18 to 24 requesting unemployment benefits doubled. Although the number of juvenile claims has decreased ever since it was still 156,300 more in July 2021 than in March 2020 which is a 66% rise.
The epidemic undoubtedly had an impact on young people's employment, but it appears to be returning to normal.
