Jobs market: Young face 400,000 shortfall

Those aged 18-24 are 'far less likely' to be in work today than before the recession. Picture: PA
Those aged 18-24 are 'far less likely' to be in work today than before the recession. Picture: PA
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YOUNG workers face a shortfall of nearly 400,000 jobs and those aged 18-24 are “far less likely” to be in work today than before the recession, the Trades Union Congress has warned.

Employment rates have also dipped among 25 to 34-year-olds – dropping by 2.4 per cent and leading to a 164,000 jobs shortfall, it said.

The TUC has now called on the government to introduce an employment guarantee for any young person who has been out of work for at least six months.

General-secretary Frances O’Grady said: “It’s particularly worrying that 18 to 24-year-olds have not benefited from the recent improvement in the jobs market, and they are losing out again, now that unemployment is rising.

“Ministers must do far more to help young people back into work. The current schemes are clearly not working.

“It’s time for a bold new approach. We need to see a
 job guarantee for every young person who has been out 
of work for more than six months.”

Figures collated by the TUC showed those aged 18-24 have seen the sharpest fall in their job prospects and are 10 per cent less likely to be in work today than on the eve of the recession, in February 2008.

The data suggests some 395,000 more jobs are needed before youth unemployment rates return to pre-recession 
levels.

The report also revealed a job shortfall among “prime age” workers – those aged between 25 and 49.

While it identified a 2.4 per cent drop in jobs among 25 to 34-year-olds, it found employment rates for 35 to 49-year-olds were “almost back to their pre-recession level”.

However, it was better news for older workers. The likelihood of someone aged between 50 and 64 being in 
work is 2.2 per cent higher today than it was in 2008, the TUC found.