A report published by Parliament in April 2022 illustrates a long-term decline in unemployment levels for 16-24 year olds, but the pandemic and other economic factors have resulted in a short-term increase in youth unemployment. The last measured quarter, December 2021 - February 2022, shows that there has been a 3% fall in employment among 16-24 year olds in comparison to the last pre-pandemic quarter (Jan-Mar 2020), with 107,000 more young people unemployed, and 88,000 more becoming economically inactive. Unemployment while young has life-long repercussions, being linked to long-term wage inequality, poorer health outcomes, and increased chances of future unemployment for the individual. The wider socio-economic impact includes loss of potential productivity and GDP, but also wider costs to support services, the NHS, social housing, and increased benefit claimants.

In line with the Levelling Up agenda, changes in legislation around school leaving age has shifted the focus from a single measurable in employment, to a group of variables: education, employment and training. Young people not in education, employment, or training (NEET) between October - December 2021 was estimated to be 10.2% by the ONS in their February 2022 report. In order to address youth unemployment, we must equip young people with relevant and transferable skills for the modern workforce, providing a variety of pathways to the labour market, and reducing the skills gap between education and employment.

This timely event will look at the shifting labour market, the skills shortage in the UK, systemic inequalities in employment, and jobs of the future.