A devastating new report has laid bare the scale of the crisis facing young Britons. The study, published by the Resolution Foundation, warns that a 'lost generation' is being created as opportunities for young people shrink at a rate not seen since the early 1980s. The report, titled 'The New Landscape of Youth Employment', found that real wages for under-25s have fallen by 12% since 2008, while the number of young people not in education, employment, or training (NEET) has hit a five-year high of 860,000.
The North of England has been hit hardest of all. In Newcastle, youth unemployment stands at 18%, double the national average. 'These are not just statistics,' said Sarah Jenkins, Economy & Labour Reporter.
'They are real lives, real hopes, and real futures being eroded.' The report calls for a new youth guarantee of quality training or employment, funded by a windfall tax on oil and gas giants. Without action, it warns, the damage will be permanent.
The government has said it is 'committed to levelling up opportunities' but critics argue that the pace of change is far too slow. For the young people of Britain, the clock is ticking.
