The missing million: Addressing the youth employment challenge
There are one million young people unemployed in the UK. The implications could be grave. For the individual, unemployment can have scarring effects on future employment prospects, wages and social development. For the UK, higher unemployment leads to lost economic productivity and higher welfare costs. But there is already a wealth of research on this subject. The question instead is how to solve it.
The missing million is a two-year, solutions-focused project with the aim of increasing the employment prospects of young people in the UK. To do this, the project will answer two key questions:
- What measures can be taken now to address the problem of youth unemployment?
- How can the UK move to a longer-term model with lower levels of youth unemployment?
In the first year we will produce a set of reports that will consider the growing structural unemployment problem, the employer's role, lessons from Germany and solutions at a local level, as well as a major conference, The Youth Unemployment Summit, to find solutions to these important issues.