Northwest hit by youth unemployment
A report by the Prince's Trust has today revealed that more young people in Liverpool and Manchester are growing up in jobless households than anywhere else around the country. The figure for Liverpool and Manchester equates to one in three with a figure for the UK as a whole of one in six. The situation for the Northwest of England overall is very difficult and very challenging to say the least.
The report by the Prince's Trust found that 77% of young people in the northwest of England from workless households have struggled to find employment and 9% had already moved over to benefits because "this was what their family were doing". There are grave concerns that unless this cycle of unemployment, depression and the benefits system is broken as soon as possible the UK employment market may well lose out on yet another generation of workers.
While the situation is not quite as bad as areas such as Glasgow, which is renowned as the benefits capital of the UK, there is no doubt that some areas of the UK are finding it much tougher than others. The UK government has very limited funding available to introduce employment initiatives and therefore many will have to struggle under their own steam in the short to medium term.
Share this..
Related stories
Coalition claims rise in UK real term wages
24/01/2014 Today the coalition government have claimed that the majority of British workers outside of the top 10% of earners have seen their take-home pay rise in real terms. The figures produced by the coalition government show take-home wages have risen by 2.5%, which is 0.1% higher than the annual Consumer Prices Index (CPI) increase of 2.5% to the year April 2013, with Prime Minister Da...
Read MoreConsumer spending to slow in face of crunch
UK banks' adoption of more stringent lending criteria is set to significantly cut consumer spending levels this years, a member of the Bank of England's monetary policy committee has predicted. Tim Besley issued the warning today in a speech at the Institute of Fiscal Studies, in which he noted that even small increases to the cost of borrowing for consumers have significant repercussions on spend...
Read MoreUK 'hardest hit in Europe' by crunch
Britain is likely to be harder hit by the credit crunch than other European nations, experts have said.According to economists the relatively high levels of exposure to debt among consumers and the sharp decrease in house prices will affect UK consumers markedly, the News of the World reports.The economy's high exposure to the financial services and banking sector - within which the credit crunch...
Read MoreGraduate job market recovers to pre-recession levels
07/07/2014 The number of graduate job opportunities has increased by 12% over the last 12 months, according to a report. The figures are particularly significant, as it means the graduate job market has recovered to the same level as before the recession in 2007, when employment opportunities fell by 23.3% up to 2009. The report said that the UK’s top companies employed more graduates t...
Read MoreUK government announce £50 billion rescue package
It was probably the worst kept secret in the financial markets but today we have seen the announcement of a £50 billion rescue package for UK banks. But does it go far enough and will it see us through the crisis?
While the move today was announced in a blaze of glory it seems to many as though this is yet again only a half way house and not the final piece of the jigsaw for the U...