5th November 2015
According to the Office of National Statistics (ONS), youth unemployment has seen its greatest annual fall in 30 years. Having fallen by 206,000 over the past year, youth unemployment is now at the lowest level in nearly six years, down 4.5 percentage points compared to a year ago.
Coinciding with a general fall in unemployment, (unemployment fell by 437,000 over the past year – and 132,000 in only the past three months) these statistics demonstrate a positive outlook for the prospects of not only younger employees but also for the wider workforce.
With apprenticeships being a key government initiative, the proportion of employers that plan to hire apprentices and school-leavers in response to recruitment difficulties has increased sharply over the past twelve months. With younger employees being able to move into roles in which they can gain skills, more and more younger people can feel positive about their prospects, even if they have not gained the exam grades that they would have liked. Indeed, according to the National Apprenticeship Service, 88% of employers who employ apprentices believe that Apprenticeships lead to a more motivated and satisfied workforce.
Roger Moore, Managing Director, IRIS FMP HR & Payroll Software comments, “It is vital for all businesses to have a good mix of age groups in the workplace. From more experienced, to those just starting out on apprentice schemes, having a rich mixture of abilities both helps the business to grow and provides opportunities for career progression which results in engaged and loyal employees. Investing in people should be a priority for all businesses moving forwards.”