Moreover, relevant policy options analyses are included in this report with detailed explanations of two the most suitable and appropriate policy options taking into account present economic and political circumstances in the UK.
The report is concluded by making recommendations regarding the implementation of a specific policy option with detailed explanations provided.
Youth unemployment is proving to be a serious challenge in the UK with highly negative short-term and long-term economic and social implications. Specifically, nearly 1.5 million, or more than 20 per cent of young people in the UK are found to be not engaged in education, employment or training (ACEVO, 2012). Moreover, according to estimations, the net present value cost of youth unemployment for the next ten years is going to amount to £28 billion (ACEVO, 2012).
A wide range of negative implications of youth unemployment include negative impact on national economy for short-term and long-term perspectives, negative impact on future earning potentials of youth involved, detrimental impacts on mental and individual health of young individuals involved (Gregg et al., 2011), and increase in the level of anti-social behaviour within the society (Howell, 2005).
The major reasons for increasing levels of youth unemployment in the UK have been specified as the recent global economic and financial crisis, failure in the UK immigration policies (Sunley et al., 2011), and systematic employment policy failures (Furlong, 2012).
1. Introduction: Nature of the Problem 1
2. Description of Relevant Existing Key Policies 2
3. Gaps on Youth Unemployment to be Addressed 4
4. Policy Goals and their Alignment with Government Preferences 5
5. Policy Options Analysis 7
5.1 Increasing the Levels Engagement of Employers 7
5.2 Setting up Youth Employment and Skills Service Agency 9
6. Recommendations 11
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- Published: December 2013
- 2432 Words
- 11 Pages